NEW YORK - Suncor traders may be encouraged that the stock has just crossed the 50 day moving average. This is a key figure for people who don't do actual research. Edwards said "I think it is kind of foolish to trade on such things, especially when these things encourage you have to buy something above its average price." Edwards further commented that Suncor is still expensive compared to Exxon which is safer and cheaper.
Edwards finished "I believe that the sun may finally be shining on Suncor, but it is not my favorite oil stock." He warned investors that Canadian companies are being valued at premium valuations compared to their American peers and he suggested to Canadians to buy American oil companies going forward.
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