CENOVUS ENERGY INC - CVECN 2.404 PERP (CVE-PR-A.CA) Stock Technical Analysis
TSX:CVE-PR-A - Toronto Stock Exchange - CA15135U3073 - Currency: CAD
Overall CVE-PR-A gets a technical rating of 10 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, CVE-PR-A is showing a nice and steady performance.
CVE-PR-A has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 23.74. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.63, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CVE-PR-A 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
21.54
When analyzing the support we can see 2 important areas.
- A support zone ranging from 22.29 to 23.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 21.76 to 21.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 23.74 to 23.84. 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 CVE-PR-A.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVE-PR-A.CA is up. |
| ChartMill Relative Strength | 82.58 | POSITIVE | CVE-PR-A.CA has a high relative strength, it outperformed 82.58% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CVE-PR-A.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVE-PR-A.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVE-PR-A.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.54 | NEUTRAL | The RSI value for CVE-PR-A.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests CVE-PR-A.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 86.07 | OVERBOUGHT | The high Stochastics value suggests CVE-PR-A.CA may be overbought. |
| Average True Range in percent/ATR (20) | 1.01 | LOW VOLATILITY | The low ATR as a percentage value for CVE-PR-A.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 32.36 | POSITIVE | The high ADX value value for CVE-PR-A.CA suggests a strong trend. |
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 |
|---|---|---|---|
| 23.85 | 22.99 | 0.86 (3.61%) | 25.00% |
| An entry @23.85. This is a Buy Stop order right above the resistance zone. | An exit @22.99. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.86 points, which is 3.61%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.90%. |
- 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.
CENOVUS ENERGY INC - CVECN 2.404 PERP
TSX:CVE-PR-A (5/23/2025, 7:00:00 PM)
23.73
+0.1 (+0.42%)