CENOVUS ENERGY INC (CVE.CA) Stock Technical Analysis
TSX:CVE - Toronto Stock Exchange - CA15135U1093 - Common Stock - Currency: CAD
Overall CVE gets a technical rating of 1 out of 10. CVE's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
84% of all other stocks performed better in the past year than CVE.
CVE is part of the Oil, Gas & Consumable Fuels industry. There are 209 other stocks in this industry, of which 68% are performing better than CVE.
CVE is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CVE is lagging the market.
CVE has an average volume of 6633830 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month CVE has a been trading in the 17.61 - 19.73 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
Although the technical rating is bad, CVE does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 18.62. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
17.18
22.88
When analyzing the support we can see 2 important areas.
- A support zone ranging from 17.69 to 17.79. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @17.35 from a trend line in the daily time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 18.62 to 18.66. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 19.18 to 19.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @20.04 from a trend line in the daily time frame.
- Resistance @22.65 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 | DOWN | NEGATIVE | The long term trend for CVE.CA is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CVE.CA is neutral. |
| ChartMill Relative Strength | 16.9 | NEGATIVE | CVE.CA has a low relative strength, it was outperformed by 83.1% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CVE.CA is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of CVE.CA is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CVE.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.47 | 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, although the MACD value is rising. |
| Stochastics (14,3) | 32.84 | NEUTRAL | The Stochastics value for CVE.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.29 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 14.03 | NEGATIVE | The low ADX value for CVE.CA suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
TSX:CVE (6/6/2025, 7:00:00 PM)
18.54
+0.48 (+2.66%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg2.66%
1 Week2.43%
2 Weeks-0.91%
1 Month4.27%
3 Month1.37%
6 Month-12.75%
12 Month-28.75%
2 Year-17.6%
3 Year-24.3%
5 Year191.97%
10 Year-7.16%
15 Year-32.34%
Volatility
ATR(14)0.58
ATR(20)%3.29%
ATR Inc-11.7%
Range Today0.39
ADR(20)0.54
ADR(20)%2.92%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS16.9
Mansfield-1.96
10 Day High19.04
10 Day Low17.61
20 Day High19.73
20 Day Low17.61
52 Week High28.39
52 Week Low14.48
CS1 End17.79
CR1 Start18.62
Volume & EV
DER(3)0.21%
DER(5)1.11%
Volume9.16M
Volume Incr62.02%
Vol(5)9.91M
Vol(50)6.63M