CANADIAN NATURAL RESOURCES (CNQ) Technical Analysis
NYSE:CNQ • CA1363851017
Current stock price
CNQ Technical Rating and Analysis
Overall CNQ gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CNQ is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- CNQ is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 81% of 209 stocks in the same industry.
- CNQ is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so CNQ is leading the market.
- In the last month CNQ has a been trading in the 41.63 - 51.34 range, which is quite wide. It is currently trading near the high of this range.
- CNQ has an average volume of 10544800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that CNQ is one of the better performing stocks in the market, outperforming 94% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
- Volume is considerably higher in the last couple of days.
CNQ Weekly and Daily overview Charts
CNQ Setup Rating and Analysis
Although CNQ has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
CNQ Support and Resistance Analysis
29.99
When analyzing the support we can see 4 important areas.
- A support zone ranging from 48.27 to 49.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 32.53 to 32.93. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @31.31 from a trend line in the daily time frame.
- Support @30.29 from a horizontal line in the daily time frame.
CNQ Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CNQ is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNQ is up. |
| ChartMill Relative Strength | 94.57 | POSITIVE | CNQ has a high relative strength, it outperformed 94.57% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CNQ is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CNQ is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CNQ is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 72.68 | OVERBOUGHT | The high RSI value suggests CNQ may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests CNQ has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.29 | OVERBOUGHT | The high Stochastics value suggests CNQ may be overbought. |
| Average True Range in percent/ATR (20) | 2.68 | MEDIUM VOLATILITY | The ATR as a percentage value for CNQ suggests some volalility. |
| Average Directional Index/ADX (14) | 58.31 | POSITIVE | The high ADX value value for CNQ suggests a strong trend. |
CNQ Chart- and CandleStick Pattern Analysis
CNQ Technicals: Chart, Performance Metrics, Trend & Indicators
49.02
-1.53 (-3.03%)
CANADIAN NATURAL RESOURCES / CNQ TA FAQ
Can you provide the ChartMill technical rating for CANADIAN NATURAL RESOURCES?
ChartMill assigns a technical rating of 9 / 10 to CNQ.
Can you provide the trend direction for CANADIAN NATURAL RESOURCES?
The current trend direction for CANADIAN NATURAL RESOURCES (CNQ) is Bullish.
What is the RSI signal for CNQ stock?
CANADIAN NATURAL RESOURCES (CNQ) has an RSI value of 72.6845. This indicates that the stock is currently overbought.
What is the short term momentum for CANADIAN NATURAL RESOURCES (CNQ) stock?
The short term momentum for CANADIAN NATURAL RESOURCES (CNQ) is positive.
What are the support and resistance levels for CANADIAN NATURAL RESOURCES (CNQ) stock?
CANADIAN NATURAL RESOURCES (CNQ) has a support level at 49.01. Check the full technical report for our detailed analysis of CNQ support and resistance levels.