CENOVUS ENERGY INC (CVE.CA) Stock Technical Analysis
Canada - TSX:CVE - CA15135U1093 - Common Stock
We assign a technical rating of 5 out of 10 to CVE. In the last year, CVE was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
Although the technical rating is only medium, CVE 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 24.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.71, a Stop Loss order could be placed below this zone.
More info and screens
22.47
We found 1 important support area.
- A support zone ranging from 22.70 to 23.71. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 24.38 to 24.75. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Resistance @25.36 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 | NEUTRAL | NEUTRAL | The short term trend for CVE.CA is neutral. |
| ChartMill Relative Strength | 57.45 | NEUTRAL | CVE.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CVE.CA is below a declining 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) | 50.44 | NEUTRAL | The RSI value for CVE.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests CVE.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 24.94 | NEUTRAL | The Stochastics value for CVE.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 2.94 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 12.08 | NEGATIVE | The low ADX value for CVE.CA suggests a weak or negative trend. |
TSX:CVE (11/6/2025, 7:00:00 PM)
23.75
+0.36 (+1.54%)
CENOVUS ENERGY INC / CVE.CA FAQ
What is the technical rating for CVE stock?
ChartMill assigns a technical rating of 5 / 10 to CVE.CA.
What is the trend direction for CVE stock?
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 50.4391. 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 neutral.
What are the support and resistance levels for CENOVUS ENERGY INC (CVE.CA) stock?
CENOVUS ENERGY INC (CVE.CA) has a support level at 23.71 and a resistance level at 24.38. Check the full technical report for our detailed analysis of CVE.CA support and resistance levels.