The Hourly View for CVE
At the time of this writing, CVE (Get Ratings)’s price is down $-0.13 (-1.64%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
CVE ranks 49th in terms of today’s price percentage change out of Petroleum and Natural Gas stocks.
CVE’s Technical Outlook on the Daily Chart
Currently, CVE’s price is down $-0.14 (-1.76%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Of note is that the 20 day changed directions on CVE; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows CVE’s price action over the past 90 days.
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