CENOVUS ENERGY INC (CVE.CA) Stock Technical Analysis
TSX:CVE • CA15135U1093
Overall CVE 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 is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, CVE did better than 71% of all other stocks. On top of that, CVE also shows a nice and consistent pattern of rising prices.
- CVE is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 70% of 210 stocks in the same industry.
- CVE is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- CVE is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- CVE has an average volume of 9767510 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, CVE also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price.
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21.89
When analyzing the support we can see 4 important areas.
- A support zone ranging from 30.01 to 30.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @24.14 from a trend line in the weekly time frame.
- Support @22.96 from a trend line in the daily time frame.
- Support @22.11 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.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVE.CA is up. |
| ChartMill Relative Strength | 71.39 | POSITIVE | CVE.CA has a high relative strength, it outperformed 71.39% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CVE.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVE.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVE.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.49 | NEUTRAL | The RSI value for CVE.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests CVE.CA has a negative trend. |
| Stochastics (14,3) | 61.23 | NEUTRAL | The Stochastics value for CVE.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.34 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 40.46 | POSITIVE | The high ADX value value for CVE.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 |
|---|---|---|---|
| 30.45 | 30.00 | 0.45 (1.49%) | 25.00% |
| An entry @30.45. This is a Buy Stop order right above the 10 day moving average. | An exit @30.00. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.45 points, which is 1.49%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.37%. |
- The distance between exit and entry is rather small compared to the average daily movement of CVE. 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.
TSX:CVE (2/27/2026, 7:00:00 PM)
30.39
+0.21 (+0.7%)
CENOVUS ENERGY INC / CVE.CA FAQ
What is the technical rating for CVE stock?
ChartMill assigns a technical rating of 10 / 10 to CVE.CA.
Can you provide the trend direction for CENOVUS ENERGY INC?
The current trend direction for CENOVUS ENERGY INC (CVE.CA) is Bullish.
Can you provide the RSI signal for CENOVUS ENERGY INC?
CENOVUS ENERGY INC (CVE.CA) has an RSI value of 62.4911. This indicates that the stock is currently neutral.
Can you provide the short term momentum for CENOVUS ENERGY INC?
The short term momentum for CENOVUS ENERGY INC (CVE.CA) is positive.
What is the support and resistance level for CVE stock?
CENOVUS ENERGY INC (CVE.CA) has a support level at 30.38. Check the full technical report for our detailed analysis of CVE.CA support and resistance levels.