The economic and financial situation of the company is still strong. EPS estimates have recently been revised upward by the Thomson Reuters consensus. Debt is low with a leverage at 0.92x (1.5x for the sector).

Technically, the security shows a bullish configuration on all time scales. However, prices are back to the CAD 27.5 short term support, corresponding to the 50-day moving average. Thus, the stock may use this level as a stepping stone to bounce towards CAD 28.7.

Thanks to these good indicators, it seems relevant to take a long position in ARC Resources at the current price. The target price is the CAD 28.7 resistance. A stop loss will be set under the CAD 27.5 short term support because a breakdown of this level would damage technical pattern.