OilHere lies the sought edge.
source: FASTgraphs
The gray price band represents actual value with oil at current price up to $100+
CVE
MRO US Oil LongThe 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 area of the
Red Sea and Suez Canal. In the meanwhile two South American countries are having sovereignty
disputes over oil fields and the British Navy is offshore to buttress the interests of Guyana.
MRO is a domestic oil producer that is independent of Middle East issues. Its oil is consumed
mostly in the US with a little shipping to Asia only. On the 50 minute chart, price downtrended
from January 3th through and then below the high volume area of the volume profile.
Price has reversed back up and reapproached the evolving high volume area. The dual TF
MACD ( by Chris Moody) shows moving average divergence. Chris Moody's dual TF RSI indicator
shows the faster TF RSI rising over the slower TF RSI as a sign of bullish momentum.
I have taken both a stock and call options position in MRO having zoomed into the 15 minute
TF for a good entry. Given the level of challenges current geopolitics presents to
smooth flowing and inexpensive shipping of crude oil, I am expectant of significant gains
in these positions. I have also looked into a position in OXY and CVE, which is a Canadian
crude producer.
XLE Energy stocks, time to buy? 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 stocks have much higher beta than others..be careful.
Not FA advice.
CVE BUYHi, 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
Cenovus Energy Inc. oilCVE 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 charts, and or analysis' are my personal opinions and observations only!
US Stock In Play: $CVE$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
Cenovus $15 targetI 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 $76 before getting slaughtered all of 2019. I believe this time around we have the inverse scenario.
Long | CVENYSE:CVE
Possible Scenario: LONG
Evidence: Price Action
TP1~ 8.5$,
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%.
CVE after FDA approval of Covid VaccineThere 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
CVE - Perfect time to go LONGLots of calls were bought last 2 weeks. Expecting bounce to 9+ if oil support
Swing Trading: Catching Up with Cenovus (TSX:CVE)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 have taken profit there for an easy 5% once it started to drop.)
16% in two trades... enough to upgrade your family's Christmas gifts.
Interested in the AllTradeSignals Volume Pressure Gauge? Get in touch with us here on TradingView!
CVE Bullish Structure - Possible Elliott Wave AnalysisCVE is looking to start a new set of impulse waves that could close the triangle bottom formation and breakout.
