CENOVUS ENERGY INC (CVE.CA) Stock Technical Analysis
Canada - TSX:CVE - CA15135U1093 - Common Stock
Overall CVE gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CVE is only an average performer.
Besides having an excellent technical rating, CVE also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 24.44. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.61, a Stop Loss order could be placed below this zone. 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
22.28
We found 2 important support areas.
- A support zone ranging from 23.31 to 23.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @22.51 from a trend line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 24.44 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 | 53.6 | NEUTRAL | CVE.CA is not amongst the best or worst performers 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) | 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) | 49.66 | NEUTRAL | The RSI value for CVE.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests CVE.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 21.81 | NEUTRAL | The Stochastics value for CVE.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.09 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 13.64 | NEGATIVE | The low ADX value for CVE.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 |
|---|---|---|---|
| 23.73 | 23.30 | 0.43 (1.79%) | 25.00% |
| An entry @23.73. This is a Buy Stop order right above the 10 day moving average. | An exit @23.30. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.43 points, which is 1.79%. | For a 0.45% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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 (10/30/2025, 7:00:00 PM)
23.7
+0.23 (+0.98%)
CENOVUS ENERGY INC / CVE.CA FAQ
What is the technical rating for CVE stock?
ChartMill assigns a technical rating of 7 / 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 49.6561. 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 23.61 and a resistance level at 24.44. Check the full technical report for our detailed analysis of CVE.CA support and resistance levels.