CENOVUS ENERGY INC (CVE) Stock Technical Analysis
USA - NYSE:CVE - CA15135U1093 - Common Stock
We assign a technical rating of 6 out of 10 to CVE. 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.
CVE has an average technical rating and also 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
16.40
When analyzing the support we notice one important area.
- A support zone ranging from 16.57 to 17.04. 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 17.47 to 17.77. This zone is formed by a combination of multiple trend lines 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 | 77.52 | POSITIVE | CVE has a high relative strength, it outperformed 77.52% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CVE is above the rising 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) | 56.68 | NEUTRAL | The RSI value for CVE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests CVE has a positive trend. |
| Stochastics (14,3) | 38.61 | NEUTRAL | The Stochastics value for CVE is a neutral value. |
| Average True Range in percent/ATR (20) | 2.53 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE suggests some volalility. |
| Average Directional Index/ADX (14) | 14.15 | NEGATIVE | The low ADX value for CVE suggests a weak or negative trend. |
17.44
+0.63 (+3.75%)
CENOVUS ENERGY INC / CVE FAQ
What is the technical rating for CVE stock?
ChartMill assigns a technical rating of 6 / 10 to CVE.
What is the trend direction for CVE stock?
The current trend direction for CENOVUS ENERGY INC (CVE) is Bullish.
Can you provide the RSI signal for CENOVUS ENERGY INC?
CENOVUS ENERGY INC (CVE) has an RSI value of 56.6824. 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) is neutral.
What are the support and resistance levels for CENOVUS ENERGY INC (CVE) stock?
CENOVUS ENERGY INC (CVE) has a support level at 17.04 and a resistance level at 17.47. Check the full technical report for our detailed analysis of CVE support and resistance levels.