OVINTIV INC (OVV) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:OVV - US69047Q1022 - Common Stock
Taking everything into account, OVV scores 8 out of 10 in our technical rating. Although OVV 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!
- OVV 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 OVV is lagging the market slightly.
- In the last month OVV has a been trading in the 36.80 - 44.41 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- OVV has an average volume of 3417190 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, OVV outperforms 66% of them, which is more or less in line with the market.
- OVV is part of the Oil, Gas & Consumable Fuels industry. There are 207 other stocks in this industry, OVV did better than 51% of them.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although OVV has an excellent technical rating, it does not present a decent entry opportunity 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
35.31
4 important support areas can be observed.
- Support @43.17 from a horizontal line in the daily time frame.
- A support zone ranging from 39.81 to 40.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 36.64 to 37.74. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @35.67 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 43.48 to 43.48. 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 | UP | POSITIVE | The long term trend for OVV is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OVV is up. |
| ChartMill Relative Strength | 66.45 | NEUTRAL | OVV is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OVV is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OVV is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OVV is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 69.58 | NEUTRAL | The RSI value for OVV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.43 | POSITIVE | The MACD value suggests OVV has a positive trend. |
| Stochastics (14,3) | 90.89 | OVERBOUGHT | The high Stochastics value suggests OVV may be overbought. |
| Average True Range in percent/ATR (20) | 3.28 | MEDIUM VOLATILITY | The ATR as a percentage value for OVV suggests some volalility. |
| Average Directional Index/ADX (14) | 28.81 | POSITIVE | The high ADX value value for OVV suggests a strong trend. |
43.47
+0.71 (+1.66%)
OVINTIV INC / OVV FAQ
What is the ChartMill technical rating of OVINTIV INC (OVV) stock?
ChartMill assigns a technical rating of 8 / 10 to OVV.
Can you provide the trend direction for OVINTIV INC?
The current trend direction for OVINTIV INC (OVV) is Bullish.
Can you provide the RSI signal for OVINTIV INC?
OVINTIV INC (OVV) has an RSI value of 69.5806. This indicates that the stock is currently neutral.
What is the short term momentum for OVV stock?
The short term momentum for OVINTIV INC (OVV) is positive.
What is the buy/sell signal for OVINTIV INC (OVV) stock?
The buy/sell signal for OVINTIV INC (OVV) is buy as both the short term and long term trends are positive.