CANADIAN NATURAL RESOURCES (CNQ) Stock Technical Analysis
NYSE:CNQ - New York Stock Exchange, Inc. - CA1363851017 - Common Stock - Currency: USD
Overall CNQ gets a technical rating of 6 out of 10. CNQ has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
When comparing the yearly performance of all stocks, CNQ is a bad performer in the overall market: 68% of all stocks are doing better.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
CNQ has an average volume of 6906890 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
CNQ is part of the Oil, Gas & Consumable Fuels industry. There are 213 other stocks in this industry, CNQ did better than 63% of them.
CNQ is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CNQ is lagging the market slightly.
In the last month CNQ has a been trading in the 27.93 - 32.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
CNQ has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 30.24, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- 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
27.73
34.40
2 important support areas can be observed.
- A support zone ranging from 29.58 to 30.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @28.01 from a horizontal line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 31.05 to 31.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 31.86 to 32.74. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @34.06 from a trend line in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for CNQ is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNQ is up. |
| ChartMill Relative Strength | 32.91 | NEUTRAL | CNQ is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of CNQ is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.54 | NEUTRAL | The RSI value for CNQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests CNQ has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 66.71 | NEUTRAL | The Stochastics value for CNQ is a neutral value. |
| Average True Range in percent/ATR (20) | 2.54 | MEDIUM VOLATILITY | The ATR as a percentage value for CNQ suggests some volalility. |
| Average Directional Index/ADX (14) | 17.21 | NEGATIVE | The low ADX value for CNQ suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 31.07 | 30.13 | 0.94 (3.03%) | 25.00% |
| An entry @31.07. This is a Buy Stop order right above the resistance zone. | An exit @30.13. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.94 points, which is 3.03%. | For a 0.76% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CNQ. Please evaluate whether better entry and exit points can be found.
- 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.
31.05
+0.23 (+0.75%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg0.75%
1 Week1.14%
2 Weeks1.77%
1 Month5.83%
3 Month3.6%
6 Month-10.88%
12 Month-18.94%
2 Year15.26%
3 Year-6.38%
5 Year243.09%
10 Year101.36%
15 Year78.81%
Volatility
ATR(14)0.78
ATR(20)%2.54%
ATR Inc-10.37%
Range Today0.61
ADR(20)0.66
ADR(20)%2.12%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS32.91
Mansfield-0.65
10 Day High32.3
10 Day Low30.14
20 Day High32.3
20 Day Low27.93
52 Week High38.86
52 Week Low24.65
CS1 End30.24
CR1 Start31.05
Volume & EV
DER(3)1.05%
DER(5)-0.22%
Volume3.86M
Volume Incr6.79%
Vol(5)5.75M
Vol(50)6.91M