COVEO SOLUTIONS INC-SUB VTG (CVO.CA) Stock Technical Analysis
TSX:CVO - Toronto Stock Exchange - CA22289D1078 - Common Stock - Currency: CAD
Taking everything into account, CVO scores 8 out of 10 in our technical rating. Although CVO is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
The long and short term trends are both positive. This is looking good!
CVO 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 CVO is lagging the market slightly.
CVO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Looking at the yearly performance, CVO did better than 78% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
CVO is part of the Software industry. There are 63 other stocks in this industry, CVO did better than 66% of them.
Besides having an excellent technical rating, CVO also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. We notice that large players showed an interest for CVO in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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
5.17
7.61
When analyzing the support we can see 3 important areas.
- A support zone ranging from 7.48 to 7.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @6.88 from a horizontal line in the daily time frame.
- A support zone ranging from 5.22 to 5.24. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- Resistance @7.53 from a horizontal line in the weekly 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 CVO.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVO.CA is up. |
| ChartMill Relative Strength | 78.58 | POSITIVE | CVO.CA has a high relative strength, it outperformed 78.58% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CVO.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVO.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVO.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 75.38 | OVERBOUGHT | The high RSI value suggests CVO.CA may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests CVO.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 84.18 | OVERBOUGHT | The high Stochastics value suggests CVO.CA may be overbought. |
| Average True Range in percent/ATR (20) | 3.23 | MEDIUM VOLATILITY | The ATR as a percentage value for CVO.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 34.29 | POSITIVE | The high ADX value value for CVO.CA 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 |
|---|---|---|---|
| 7.54 | 7.47 | 0.07 (0.93%) | 25.00% |
| An entry @7.54. This is a Buy Stop order right above the resistance zone. | An exit @7.47. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.07 points, which is 0.93%. | For a 0.23% 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 CVO. 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:CVO (6/12/2025, 7:00:00 PM)
7.5
+0.03 (+0.4%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.4%
1 Week2.6%
2 Weeks6.99%
1 Month9.65%
3 Month45.63%
6 Month13.81%
12 Month-3.6%
2 Year-9.2%
3 Year49.4%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.22
ATR(20)%3.23%
ATR Inc-16%
Range Today0.26
ADR(20)0.24
ADR(20)%3.21%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS78.58
Mansfield1.15
10 Day High7.67
10 Day Low6.77
20 Day High7.67
20 Day Low6.68
52 Week High8.3
52 Week Low4.92
CS1 End7.49
CR1 Start7.53
Volume & EV
DER(3)-4.61%
DER(5)3.47%
Volume109.98K
Volume Incr-29.21%
Vol(5)128.83K
Vol(50)126.03K