It’s no secret that Canada is one of the most resource-rich nations on the planet. According to Natural Resources Canada. the country’s proven oil reserves are vast enough to meet its energy demands for 140 years at the current rate of production. Much of Canada’s oil reserves consist of oil contained in the oil sands of Alberta. However, other non-oil sands deposits are very popular across all of western Canada in what is known as the Sedimentary Basin. Provinces that will be of interest to energy investors across North America include Alberta, British Columbia, Manitoba, Saskatchewan and the Northwest Territories.

As of April 2014, Canada had an estimated 173 billion barrels of proven oil reserves. Some figures suggest that more than 95% of the reserves are located in Alberta’s oil sands. Given the extremely rich energy sector, Canadian oil stocks deserve a place in any diversified portfolio. (For more, see: Canadian Oil Production Set to Grow Rapidly .)

Easy Access Via ETF

One popular choice for American investors looking to increase their exposure to the Canadian energy sector is the Guggenheim Canadian Energy Income ETF (ENY ). For those who don’t follow this ETF, the ENY fund holds 47 energy companies from across Canada each selected for their attractive yields. The ETF carries a 0.70% net expense ratio, which seems reasonable given the lucrative combination of yield and sector exposure. (For related reading, see: ETFs for Playing the Surge in Unconventional Energy .)

Taking a look at the chart, notice how the price is testing a significant level of support. This chart is an excellent example of how a level of resistance reverses its role once the price breaks above. (For a refresher on this concept, see: Support and Resistance Reversals . ) Active traders will expect the trend in Canadian energy companies to remain upward until the price closes below the identified trendline. (For related reading, see: Fracking ETFs or Drilling Services Stocks? )

Suncor Energy

Suncor Energy Inc. (SU ) and its $57.6 billion market capitalization is often viewed as the 800-pound gorilla of the Canadian energy sector. There are other large energy companies in Canada, but there are few with the scale to make deals of the magnitude of its 2009 purchase of Petro-Canada for approximately CAD17 billion. Suncor is one of the energy companies leading the way in the development of Alberta’s oil sands. The company is investing approximately $150 million per year in R&D. Investors have been rewarded over the years, as the company has consistently focused on increasing production and profitability while reducing its environmental footprint. (For more, see: Get Exposure to Canadian Oil Sands with These Stocks .)

From the technical perspective, you can see from the weekly chart that the stock is trading within a long-term bullish chart pattern. Notice how the ascending trendline has provided support ever since it notched a low of $13.22 back in 2008. The horizontal trendline and long-term moving averages near $35 will likely add extra support in the event of a sell-off. Active traders will likely protect their long positions in the stock by placing a stop-loss order below the mentioned support levels near $33. (For more, see: Fracking Can’t Happen Without These Companies .)

Canadian Natural Resources

Canadian Natural Resources Ltd. (CNQ ) is another giant energy company (CAD44.98 billion market cap) that explores for, develops, produces, markets and sells crude oil products. The company has significant operations in the Sedimentary Basin, as well as in other areas around the globe. Fundamental investors will be encouraged to find an attractive forward P/E ratio of 10.45 along with a dividend yield near 2%. Over the past 52-weeks the stock has risen 30.64%, and based on the chart shown below, this trend doesn’t look like it will reverse anytime soon. (For more, see: Key Ratios for Analyzing Oil and Gas Stocks .)

The recent crossover between the 50-week and the 200-week moving averages is an extremely bullish long-term buy signal. Position traders will use the crossover to suggest that the momentum is on the side of the bulls. Traders wouldn’t expect a reversal in the uptrend until the price closes below the 200-week moving average ($34.24), which is the level where most stop-losses will likely be set. (For more, see: Pipeline Plans are a Big Win for the Oil Sands .)

Canadian Oil Sands Ltd.

Canadian Oil Sands Ltd. (COS.TO ) is a large-cap energy company (CAD10.42 billion market cap) that was named to the Dow Jones Sustainability North America Index for its role in responsible oil sands development. The company makes an interesting investment choice because of its exposure to Syncrude (an extremely large player in Alberta’s oil sands). In addition, the company provides exposure to long-term pure oil exposure because of its lack of hedging. Taking a look at the chart, you’ll find that the pattern is nearly identical to that of Canadian Natural Resources shown above. The recent crossover of its 50-week and 200-week moving average suggests that the long-term trend is in the upward direction and that momentum is set to increase over the months ahead. The proximity to the long-term average creates an interesting risk/reward ration. Most traders will likely set their stop-loss orders below the 50-week and 200-week moving averages, which are currently at $21.19 and $19.96, respectively. (For related reading, see: TransCanada Sits in Oil Pipeline Catbird Seat .)

The Bottom Line

When it comes to investing in oil companies and oil-related assets, one of the best options is to look to Canada. Luckily for retail investors, products such as Guggenheim Canadian Energy Income ETF have been developed for the purpose of investing in high-paying Canadian energy stocks. For those who want to increase their exposure even more, look to the large-cap Canadian oil companies that we’ve discussed in this article (they all trade on the U.S. exchanges). The only thing better than accessibility is the fact they each of the companies mentioned above are also nearing very significant levels of support, which equates to lucrative risk/reward ratio for those willing to look beyond the border. (For further reading, see: 10 Canadian Oil Companies Worth Your Attention .)