CANADIAN NATURAL RESOURCES (CNQ) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CNQ - CA1363851017 - Common Stock
Taking everything into account, CNQ scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CNQ is only an average performer.
Although CNQ has an excellent technical rating, it does not present a decent entry opportunity 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.
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29.02
When analyzing the support we can see 3 important areas.
- A support zone ranging from 32.27 to 33.94. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 29.83 to 31.04. 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.
We found 1 important resistance area.
- A resistance zone ranging from 34.67 to 34.67. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 74.95 | POSITIVE | CNQ has a high relative strength, it outperformed 74.95% 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) | 66.49 | NEUTRAL | The RSI value for CNQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests CNQ has a positive trend. |
| Stochastics (14,3) | 76.8 | NEUTRAL | The Stochastics value for CNQ is a neutral value. |
| Average True Range in percent/ATR (20) | 2.25 | MEDIUM VOLATILITY | The ATR as a percentage value for CNQ suggests some volalility. |
| Average Directional Index/ADX (14) | 23.28 | NEUTRAL | The ADX value for CNQ suggests a possible start of a new trend. |
34.66
+0.2 (+0.58%)
CANADIAN NATURAL RESOURCES / CNQ FAQ
Can you provide the ChartMill technical rating for CANADIAN NATURAL RESOURCES?
ChartMill assigns a technical rating of 8 / 10 to CNQ.
What is the trend direction for CNQ stock?
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 66.4867. This indicates that the stock is currently neutral.
What is the short term momentum for CNQ stock?
The short term momentum for CANADIAN NATURAL RESOURCES (CNQ) is positive.
What is the buy/sell signal for CNQ stock?
The buy/sell signal for CANADIAN NATURAL RESOURCES (CNQ) is buy as both the short term and long term trends are positive.