CENOVUS ENERGY INC (CVE) Stock Technical Analysis
USA - NYSE:CVE - CA15135U1093 - Common Stock
17.24 USD
-0.17 (-0.98%)
17.2 USD
-0.04 (-0.23%)
Taking everything into account, CVE scores 6 out of 10 in our technical rating. 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.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
CVE is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 83% of 211 stocks in the same industry.
CVE is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CVE is lagging the market slightly.
In the last month CVE has a been trading in the 16.59 - 18.61 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
CVE has an average volume of 19368800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, CVE did better than 74% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
Although the technical rating is only medium, CVE does present a nice setup opportunity. 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 a support zone below the current price at 16.98, a Stop Loss order could be placed below this zone.
More info and screens
16.20
18.26
When analyzing the support we notice one important area.
- A support zone ranging from 16.36 to 16.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 17.31 to 17.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @18.08 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 is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CVE is neutral. |
| ChartMill Relative Strength | 74.63 | POSITIVE | CVE has a high relative strength, it outperformed 74.63% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CVE is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52 | NEUTRAL | The RSI value for CVE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests CVE has a negative trend. |
| Stochastics (14,3) | 36.06 | NEUTRAL | The Stochastics value for CVE is a neutral value. |
| Average True Range in percent/ATR (20) | 3.21 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE suggests some volalility. |
| Average Directional Index/ADX (14) | 28.33 | POSITIVE | The high ADX value value for CVE suggests a strong 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)
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 |
|---|---|---|---|
| 17.78 | 16.58 | 1.20 (6.75%) | 14.82% |
| An entry @17.78. This is a Buy Stop order right above the resistance zone. | An exit @16.58. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.20 points, which is 6.75%. | For a 1.00% total portfolio risk, you can invest 14.82% of your capital in this trade. |
- 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.
17.24
-0.17 (-0.98%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg-0.98%
1 Week-0.98%
2 Weeks1.47%
1 Month-1.88%
3 Month22.53%
6 Month42.48%
12 Month1.83%
2 Year-9.64%
3 Year-14.65%
5 Year425.61%
10 Year15.63%
15 Year-38.03%
Volatility
ATR(14)0.56
ATR(20)%3.21%
ATR Inc-27.9%
Range Today0.54
ADR(20)0.52
ADR(20)%3%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS74.63
Mansfield0.64
10 Day High18.61
10 Day Low16.59
20 Day High18.61
20 Day Low16.59
52 Week High18.61
52 Week Low10.23
CS1 End16.98
CR1 Start17.31
Volume & EV
DER(3)1.8%
DER(5)1.75%
Volume16.53M
Volume Incr-33.14%
Vol(5)18.00M
Vol(50)19.37M