CENOVUS ENERGY INC (CVE.CA) Stock Technical Analysis
Canada - Toronto Stock Exchange - TSX:CVE - CA15135U1093 - Common Stock
We assign a technical rating of 8 out of 10 to CVE. Although CVE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
- Both the short term and long term trends are positive. This is a very positive sign.
- CVE is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month CVE has a been trading in the 21.62 - 26.60 range, which is quite wide. It is currently trading near the high of this range.
- CVE has an average volume of 11661800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, CVE turns out to be only a medium performer in the overall market: it outperformed 62% of all stocks.
- CVE is part of the Oil, Gas & Consumable Fuels industry. There are 206 other stocks in this industry, CVE did better than 65% of them.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
CVE has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
21.89
We found 4 important support areas.
- A support zone ranging from 24.28 to 24.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @23.41 from a trend line in the weekly time frame.
- Support @22.87 from a horizontal line in the weekly time frame.
- A support zone ranging from 22.11 to 22.43. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 26.46 to 26.46. 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.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVE.CA is up. |
| ChartMill Relative Strength | 62.6 | NEUTRAL | CVE.CA is not amongst the best or worst performers 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) | 65.67 | NEUTRAL | The RSI value for CVE.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.28 | POSITIVE | The MACD value suggests CVE.CA has a positive trend. |
| Stochastics (14,3) | 94.5 | OVERBOUGHT | The high Stochastics value suggests CVE.CA may be overbought. |
| Average True Range in percent/ATR (20) | 3.16 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 23.83 | NEUTRAL | The ADX value for CVE.CA suggests a possible start of a new trend. |
TSX:CVE (1/27/2026, 7:00:00 PM)
26.45
+0.47 (+1.81%)
CENOVUS ENERGY INC / CVE.CA FAQ
What is the technical rating for CVE stock?
ChartMill assigns a technical rating of 8 / 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 65.6741. 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 24.52 and a resistance level at 26.46. Check the full technical report for our detailed analysis of CVE.CA support and resistance levels.