CENOVUS ENERGY INC - CVECN 4.591 PERP (CVE-PR-E.CA) Stock Technical Analysis
Canada - Toronto Stock Exchange - TSX:CVE-PR-E - CA15135U7033
We assign a technical rating of 6 out of 10 to CVE-PR-E. In the last year, CVE-PR-E was one of the better performers, but we do observe some doubts in the very recent evolution.
- Looking at the yearly performance, CVE-PR-E did better than 70% of all other stocks. We also observe that the gains produced by CVE-PR-E over the past year are nicely spread over this period.
- CVE-PR-E is part of the Oil, Gas & Consumable Fuels industry. There are 211 other stocks in this industry. CVE-PR-E outperforms 78% of them.
- CVE-PR-E is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CVE-PR-E is lagging the market slightly.
- The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
- In the last month CVE-PR-E has a been trading in a tight range between 24.96 and 25.25.
- Volume is considerably higher in the last couple of days.
Although the technical rating is only medium, CVE-PR-E does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 25.00. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.98, 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
22.97
We found 2 important support areas.
- A support zone ranging from 24.12 to 24.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 23.20 to 23.30. 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 25.00 to 25.25. This zone is formed by a combination of multiple trend lines and important moving averages 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-E.CA is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CVE-PR-E.CA is down. |
| ChartMill Relative Strength | 70.81 | POSITIVE | CVE-PR-E.CA has a high relative strength, it outperformed 70.81% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CVE-PR-E.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVE-PR-E.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVE-PR-E.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 45.59 | NEUTRAL | The RSI value for CVE-PR-E.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests CVE-PR-E.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 10.34 | OVERSOLD | The low Stochastics value suggests CVE-PR-E.CA may be oversold. |
| Average True Range in percent/ATR (20) | 0.09 | LOW VOLATILITY | The low ATR as a percentage value for CVE-PR-E.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 18.42 | NEGATIVE | The low ADX value for CVE-PR-E.CA suggests a weak or negative 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 |
|---|---|---|---|
| 25.00 | 24.96 | 0.04 (0.16%) | 25.00% |
| An entry @25.00. This is a Buy Stop order right above the 10 day high. | An exit @24.96. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.04 points, which is 0.16%. | For a 0.04% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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 4.591 PERP
TSX:CVE-PR-E (3/31/2025, 7:00:00 PM)
24.99
0 (0%)
CENOVUS ENERGY INC - CVECN 4.591 PERP / CVE-PR-E.CA FAQ
What is the ChartMill technical rating of CENOVUS ENERGY INC - CVECN 4.591 PERP (CVE-PR-E.CA) stock?
ChartMill assigns a technical rating of 6 / 10 to CVE-PR-E.CA.
Can you provide the trend direction for CENOVUS ENERGY INC - CVECN 4.591 PERP?
The current trend direction for CENOVUS ENERGY INC - CVECN 4.591 PERP (CVE-PR-E.CA) is Bullish.
Can you provide the RSI signal for CENOVUS ENERGY INC - CVECN 4.591 PERP?
CENOVUS ENERGY INC - CVECN 4.591 PERP (CVE-PR-E.CA) has an RSI value of 45.5856. This indicates that the stock is currently neutral.
What is the MACD signal for CVE-PR-E stock?
The MACD indicator for CENOVUS ENERGY INC - CVECN 4.591 PERP (CVE-PR-E.CA) has a value of -0.019321, indicating a bearish trend.
What are the support and resistance levels for CENOVUS ENERGY INC - CVECN 4.591 PERP (CVE-PR-E.CA) stock?
CENOVUS ENERGY INC - CVECN 4.591 PERP (CVE-PR-E.CA) has a support level at 24.98 and a resistance level at 25. Check the full technical report for our detailed analysis of CVE-PR-E.CA support and resistance levels.