CENOVUS ENERGY INC - CVECN 4.37 PERP (CVE-PR-B.CA) Stock Technical Analysis
TSX:CVE-PR-B - Toronto Stock Exchange - CA15135U4063 - Currency: CAD
We assign a technical rating of 9 out of 10 to CVE-PR-B. Both in the recent history as in the last year, CVE-PR-B has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, CVE-PR-B also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 23.56. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.22, a Stop Loss order could be placed below this zone.
More info and screens
18.37
4 important support areas can be observed.
- A support zone ranging from 22.84 to 23.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 21.75 to 22.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @20.27 from a trend line in the daily time frame.
- Support @18.56 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 23.56 to 23.75. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @24.19 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 CVE-PR-B.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVE-PR-B.CA is up. |
| ChartMill Relative Strength | 73.53 | POSITIVE | CVE-PR-B.CA has a high relative strength, it outperformed 73.53% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CVE-PR-B.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVE-PR-B.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVE-PR-B.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.6 | NEUTRAL | The RSI value for CVE-PR-B.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests CVE-PR-B.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 70.65 | NEUTRAL | The Stochastics value for CVE-PR-B.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 1.87 | LOW VOLATILITY | The low ATR as a percentage value for CVE-PR-B.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 23.1 | NEUTRAL | The ADX value for CVE-PR-B.CA suggests a possible start of a new 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 |
|---|---|---|---|
| 23.76 | 23.14 | 0.62 (2.61%) | 25.00% |
| An entry @23.76. This is a Buy Stop order right above the resistance zone. | An exit @23.14. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.62 points, which is 2.61%. | For a 0.65% 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 CVE-PR-B. 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.
CENOVUS ENERGY INC - CVECN 4.37 PERP
TSX:CVE-PR-B (6/6/2025, 7:00:00 PM)
23.55
-0.2 (-0.84%)