Vermilion Energy Inc. (TSX:VET) stock has a bullish technical setup
Dwight Galusha | September 14, 2021 | SmallCapPower: Vermilion Energy Inc. (TSX:VET) is attempting to push higher from the apex of a falling wedge continuation pattern that is setting up off a major horizontal support/resistance line while the weekly PPO momentum indicator starts to curl higher off the zero. This technical setup is bullish and suggests upside momentum to follow.
Vermilion Energy is an international energy producer creating value through the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia.
The Company is targeting growth in production primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of natural gas opportunities in the Netherlands and Germany, and through oil drilling and workover programs in France and Australia.
Vermilion recently announced that its second-quarter 2021 fund flows from operations increased 7% quarter over quarter to $173 million.
Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com
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