Chart analysis leads me to believe that shorting CVE is a good option here. I would definitely buy the dip at around 1.40 - 1.60 though. We'll see what happens.
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...
The PEAD projected a Bullish outlook for $CVE after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 100%.
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...
The PEAD projected a Bullish outlook for $CVE after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 70%.
Cenovus Energy has had a bit of a run after reporting higher Q2 EPS year over year.
They are also potentially getting a bit of a bump pre next weeks OPEC meeting with crude oil closing higher on Friday even as recession concerns continue as traders see little prospect of a rise in supply coming from next week's OPEC+ meeting.
Might be worth a watch.
$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
You can buy it Target 18.75 and 20.59 stop loss 15.74 money management is your responsibility I recommend entering a maximum of 10% of the portfolio. good luck
This looks like a trade to me , which I entered moments before close was actually looking at MRO as another choice but I like the way this one closed more from a risk to reward setup basis.
**** Countertrend ****, so low probability, but price action gives us some hints of a short term reversal move here I'm looking for :
1) gap up that was not enthusiastically...
Following positive earnings, these are my personal levels swinging with EMA 21 and 50 onthe hourly chart
Long any price above 18.54
Short any price below 15.70
Will take profit in 3 steps letting the last stake to go.
CVE entry to ride the train up to the 786. 1st leg from pullback to 382 completed. Missed the break of the lower diagonal trend line. Expected a bigger pullback here but did not get it, break of line at 14.89 gave an entry signal on the 1 hour. Usual stop loss management of weekly and daily 50:50.
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.
CVE is currently fighting with the top of the 5 year price channel.
WTI has clearly broken out of the previous 5 year price pattern, CVE is lagging.
Earnings on Nov 2 - I'm looking for a big breakout there.
After breaking out of the existing channel, the new range might be $15-$22 (CDN)
CVE had a quick uptrend, mainly for oil and gas surprises. While CVE diversified its resources for energy, it may face slower growth in its up-trend. It will move toward $14.5 but stall between 14.30 and 14.5 for a while in a very optimistic hope. After earning, it may jump toward $15.
However, the price may surprise us toward higher numbers as high as $22, which...
