Technical Breakout Setups. Analyze the stocks with the best technicals forming a breakout setup pattern at the moment.
New York Stock Exchange, Inc. / Energy / Oil, Gas & Consumable Fuels
We assign a technical rating of 9 out of 10 to CVE. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CVE is showing a nice and steady performance.
Besides having an excellent technical rating, CVE also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 21.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.77, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CVE in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
15.22
When analyzing the support we can see 2 important areas.
- A support zone ranging from 19.94 to 20.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @15.37 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 21.09 to 21.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 21.09 | 19.93 | 1.16 (5.50%) | 18.18% |
| An entry @21.09. This is a Buy Stop order right above the 10 day high. | An exit @19.93. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.16 points, which is 5.50%. | For a 1.00% total portfolio risk, you can invest 18.18% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.