CENOVUS ENERGY INC (CVE) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CVE - CA15135U1093 - Common Stock
Overall CVE gets a technical rating of 0 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.
CVE has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 17.13. Right above this resistance zone may be a good entry point.
More info and screens
15.69
2 important support areas can be observed.
- Support @16.40 from a horizontal line in the weekly time frame.
- Support @15.85 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 17.13 to 17.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 18.08 to 18.52. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | NEUTRAL | NEUTRAL | The long term trend for CVE is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CVE is down. |
| ChartMill Relative Strength | 36.67 | NEUTRAL | CVE is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of CVE is below a declining 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) | 42.91 | NEUTRAL | The RSI value for CVE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests CVE has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 29.98 | NEUTRAL | The Stochastics value for CVE is a neutral value. |
| Average True Range in percent/ATR (20) | 3.11 | MEDIUM VOLATILITY | The ATR as a percentage value for CVE suggests some volalility. |
| Average Directional Index/ADX (14) | 19.73 | NEGATIVE | The low ADX value for CVE suggests a weak or negative trend. |
16.41
+0.02 (+0.12%)
CENOVUS ENERGY INC / CVE FAQ
What is the technical rating for CVE stock?
ChartMill assigns a technical rating of 0 / 10 to CVE.
Can you provide the trend direction for CENOVUS ENERGY INC?
The current trend direction for CENOVUS ENERGY INC (CVE) is Bearish.
Can you provide the RSI signal for CENOVUS ENERGY INC?
CENOVUS ENERGY INC (CVE) has an RSI value of 42.9128. 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 negative.
What is the support and resistance level for CVE stock?
CENOVUS ENERGY INC (CVE) has a support level at 16.4 and a resistance level at 17.13. Check the full technical report for our detailed analysis of CVE support and resistance levels.