The US Energy Department has announced open bids for oil contracts to replenish the national strategic reserve which was depleted during the prior run up on global oil prices. This is a sure sign that the feds think that spot oil has but in a bottom especially in the context of shipping disruptions and higher insurance costs due to terrorism /piracy in the...
Oil has been creeping up lately. Today it triggered a bullish intraday pattern. This intraday pattern if completes, sets up for a larger bullish daily chart pattern. If this breakout in oil happens were going to see some energy stocks make moves liek the Semiconductors did today. Many names like RIG, XOM, HAL, XLE put in daily bottoming tails. Some energy...
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 - Energy | Oil & Gas Integrated blow out quarter from ER yday, posting a record EPS of +0.92 (YoY +940%), and highest sales revenue of 12.95B (YoY +52%) cleared AVWAP from ATH with imminent golden cross from short term MAs (10v20). a trajectory to resumption of its uptrend
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 $76 before getting slaughtered all of 2019. I believe this time around we have the inverse scenario.
NYSE:CVE Possible Scenario: LONG Evidence: Price Action TP1~ 8.5$, tp2 ~ 9.5$ Call options, Strike 8$, 06/18/21 Call options, Strike 10$, 09/17/21 * I'm not a financial advisor and it could be wrong 100%.
There is a strong pull back on RSI 60, the resistance of $7:40 broke easily, there is a bigger one at $7.80 that supposed to push it back to $7.20, but due to the Covid Vaccine news it should not go lower than $7.40 Belw $9 will be a sell position and rebuy at $6.20
Lots of calls were bought last 2 weeks. Expecting bounce to 9+ if oil support
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...
CVE is looking to start a new set of impulse waves that could close the triangle bottom formation and breakout.