OVINTIV INC (OVV) Stock Technical Analysis
NYSE:OVV - New York Stock Exchange, Inc. - US69047Q1022 - Common Stock - Currency: USD
Overall OVV gets a technical rating of 3 out of 10. OVV'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.
Although the technical rating is bad, OVV 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 resistance zone just above the current price starting at 41.66. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 39.86, a Stop Loss order could be placed below this zone.
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37.61
2 important support areas can be observed.
- A support zone ranging from 38.66 to 39.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @37.99 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 41.66 to 41.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @43.05 from a trend line in the daily time frame.
- Resistance @43.97 from a trend line in the weekly time frame.
- Resistance @46.71 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 | NEUTRAL | NEUTRAL | The long term trend for OVV is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for OVV is neutral. |
| ChartMill Relative Strength | 38.21 | NEUTRAL | OVV is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of OVV is above a declining 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 | MIXED | The current price of OVV is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.82 | NEUTRAL | The RSI value for OVV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.12 | NEGATIVE | The MACD value suggests OVV has a negative trend. |
| Stochastics (14,3) | 43.84 | NEUTRAL | The Stochastics value for OVV is a neutral value. |
| Average True Range in percent/ATR (20) | 3.07 | MEDIUM VOLATILITY | The ATR as a percentage value for OVV suggests some volalility. |
| Average Directional Index/ADX (14) | 15.87 | NEGATIVE | The low ADX value for OVV suggests a weak or negative trend. |
40.05
+0.03 (+0.07%)