Hi, according to my analysis. CVE stock. There is a very good buying opportunity as the stock has broken the downward trend. It also breached the sideways channel and the resistance at level 24. good luck for everbody
CVE stock on the 3Day time frame.
-Looks like a double top to me
-I am bearish to neutral on CVE
-48MA turning down, if the 13MA crosses also I'd be more bearish
-Highly dependant on Oil price but when main market sells off its a double wammy
None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all...
CVE price chart analysis on the 3Day time frame 2015-Current.
In line with my "Keep it simple stupid" philosophy, my trend analysis shows that when the 13 SMA crosses the 48 SMA, it is a notable occurrence, possibly indicating a change in trend upcoming. My buy or sell decision occurs when the red 48 SMA turns down (Bear) or up (Bull). This simple strategy shows...
I see no reasons why this won't go back to test 2018 highs of 14.84 and go beyond that into the end of the year.
Positive macro around oil and canadian producers right now
Lots of calls for $90 even $100 wti from goldman sachs
2018 WTI made a high of $76 before getting slaughtered all of 2019. I believe this time around we have the inverse scenario.
Wave B should finish around $13.14 are from the micro fib extension I did for the ABC wave. After that, if $13.14 hold's true, wave C will bring prices down to $9.18 area.
Cenovus Energy seems to be swinging wildly as it gets ready to settle in for the winter.
Here are two trades picked up by our AllTradeSignals Volume Pressure Gauge over the past couple of weeks:
Trade #1 - 10% gain in 9 days
Trade #2 - 6.5% gain in 1 hour (!)
(Side note: For me, trade #2 is still "open" as I feel like there's room to run. But you could...
