CANADIAN NATURAL RESOURCES (CNQ) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:CNQ • CA1363851017
We assign a technical rating of 10 out of 10 to CNQ. 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.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that CNQ is one of the better performing stocks in the market, outperforming 81% of all stocks.
- CNQ is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 70% of 207 stocks in the same industry.
- CNQ is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month CNQ has a been trading in the 30.13 - 38.32 range, which is quite wide. It is currently trading near the high of this range.
- CNQ has an average volume of 8489100 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
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
29.02
5 important support areas can be observed.
- A support zone ranging from 33.72 to 34.39. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @32.93 from a horizontal line in the daily time frame.
- A support zone ranging from 31.77 to 31.89. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A support zone ranging from 29.84 to 31.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @29.31 from a horizontal line in the daily time frame.
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 | 81.09 | POSITIVE | CNQ has a high relative strength, it outperformed 81.09% 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) | 66.21 | NEUTRAL | The RSI value for CNQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.37 | POSITIVE | The MACD value suggests CNQ has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 91.94 | OVERBOUGHT | The high Stochastics value suggests CNQ may be overbought. |
| Average True Range in percent/ATR (20) | 3.04 | MEDIUM VOLATILITY | The ATR as a percentage value for CNQ suggests some volalility. |
| Average Directional Index/ADX (14) | 29.13 | POSITIVE | The high ADX value value for CNQ suggests a strong trend. |
37.21
-0.66 (-1.74%)
CANADIAN NATURAL RESOURCES / CNQ FAQ
Can you provide the ChartMill technical rating for CANADIAN NATURAL RESOURCES?
ChartMill assigns a technical rating of 10 / 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 66.2129. This indicates that the stock is currently neutral.
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 34.39. Check the full technical report for our detailed analysis of CNQ support and resistance levels.