Buyers have come into play to make a higher swing low and a morning star on weekly
White = Monthly Purple = Weekly Red = Daily Recently broke out of valley, looking to break through monthly level.
All of the monthly indicators pointing up and appears to be approaching breakout of accumulation zone.
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.
Know your risk and play accordingly. CVE May 17th -- 10 calls gl
Just noticed another bullish indicator with this one. I'm feeling better about this one every time I look at it.
This rally has established a reliable pattern with a sizeable rally after most single down days. As well, it’s rallied after green hammers along the trendline that reliably last 10days four times, then down for between 5 and 8 before another rally. Current position is 6/21 calls at $10 strike. Cost is .50 per contract. Currently up fifty percent as of 1040am...
Lots of calls were bought last 2 weeks. Expecting bounce to 9+ if oil support
After the release of Buffets purchase of Suncor shares many eyeballs just started looking at the Canadian energy names again. This one as well as BXE, SU, & VET all on watch.
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.