Ovintiv Inc Long Enter: Market Price Take Profit: 45.81 (5.52%) Stop Loss: 41.19 R:R Ratio: 1.40 Chart is an upward trend, making higher highs and higher low. Price is bouncing off daily support level
The Energy sector is notoriously one of the last to roll over in a recessionary environment and the $XLE chart appears to be topping out right on queue. After a euphoric run beginning in the middle of 2020, the Energy sector has stalled out creating a triple top near the $90 level. With the break of the 200-day moving average, along with an accompanying bearish...
NYSE:OVV [/symbol Possible Scenario: LONG Evidence: Price action It's my idea and could be wrong 100%
Transition will be made understandable, but meanwhile the actual infrastructure is threatening for any opponent so is here to stay for a generation. Oil is a necessity not a luxury. Wait for confirm on the breakout, (you know what I mean). Be wise don´t work for money, make money work for you.
Observation - may be a cup and handle next few days/weeks. PVT looking bullish with accumulation and RSI needs to go above 50.
Ovintiv Inc. enganges in exploration and production of natural gas and oil. IBD gives it a #4 Rank in its industry and has a IBD Relative Strength rating of 98. Its clear that is one of the leaders of the oil industry. The stock is making a good cup & handle pattern as a 3th base with a pivot buy just above $41. One thing that I like is that just below the pivot...
Stock in current up trend Form a cup and handle Form VCP pattern There is high chance of break above 41 then can place a trade with risk at 38, innitial stop loss below previous day low. Target PL at 51 or ride trend
$OVV rebounded at 200DMA. still in a HTF consolidated range below AVWAP but definitely looks promising. will discard this from watchlist if 200D does not hold in near term
charts make it look like it could go to 28 macd crossing on daily lot of volume
Could be some quick short-term upside to $16
This indicator may be signaling that OVV's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. Tickeron A.I.dvisor backtested 87 similar cases where OVV's Momentum Indicator exceeded 0, and 74 of them led to a successful outcome. Odds of Success: 85%....
OVV - Looks strong! Lots of buying from $15 in February all the way down to $2.45 in March from multiple insiders. Stop 4.83, Looking for a break above $6.03. First target 11.43, Second Target 13.93.