RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CVE
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Cenovus stock price up 0.756% on Thursday
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 05, 2024 Gain 13.97% PDF

The Cenovus stock price gained 0.756% on the last trading day (Thursday, 28th Mar 2024), rising from $19.84 to $19.99. During the last trading day the stock fluctuated 0.92% from a day low at $19.87 to a day high of $20.06. The price has risen in 8 of the last 10 days and is up by 7.18% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 5 million shares were bought and sold for approximately $106.49 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.81% during the next 3 months and, with a 90% probability hold a price between $22.53 and $25.87 at the end of this 3-month period.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

CVE Signals & Forecast

Mostly positive signals in the chart today. The Cenovus stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $19.63 and $17.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 34.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Cenovus stock

On the downside, the stock finds support just below today's level from accumulated volume at $17.92 and $17.46. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cenovus finds support just below today's level at $17.92. If this is broken, then the next support from accumulated volume will be at $17.46 and $16.22.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.182 between high and low, or 0.92%. For the last week, the stock has had daily average volatility of 1.38%.

The Cenovus stock is extremely overbought on RSI14 (96). This increases the short-term risk substantially.

Our recommended stop-loss: $19.47 (-2.58%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 50 days ago.)

Trading Expectations (CVE) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Cenovus Energy Inc to open at $19.97, and during the day (based on 14 day Average True Range), to move between $19.62 and $20.36, which gives a possible trading interval of +/-$0.375 (+/-1.87%) up or down from last closing price. If Cenovus Energy Inc takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $17.92, some $2.07 (10.36%) from the current price of $19.99, our system finds the risk reward attractive.

Is Cenovus Energy Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cenovus stock to perform well in the short-term.

Current score: 4.738 Buy Candidate Unchanged

Predicted Opening Price for Cenovus Energy Inc of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$19.97 ( 0.0834%) $19.99

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CVE

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 20.16 0.83 %
R2 20.09 0.479 %
R1 20.04 0.264 %
Current price: 19.99
Support S1 19.90 -0.431 %
S2 19.86 -0.646 %
S3 19.79 -0.99 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 19.99
Support S1 17.92 -10.36%
S2 17.46 -12.66%
S3 16.22 -18.86%

CVE Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 15, 2024 Mar 14, 2024 Mar 28, 2024 $0.104 0.520%
2 Nov 02, 2023 Dec 14, 2023 Dec 29, 2023 $0.100 0.601%
3 Jul 27, 2023 Sep 14, 2023 Sep 29, 2023 $0.106 0.509%
4 Apr 26, 2023 Jun 14, 2023 Jun 30, 2023 $0.105 0.618%
5 Feb 16, 2023 Mar 14, 2023 Mar 31, 2023 $0.0760 0.435%

FAQ

What is the symbol for Cenovus Stock and on which exchange is it traded?
The symbol for Cenovus is CVE and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Cenovus Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cenovus stock to perform well in the short-term.

How to buy Cenovus Stock?
Cenovus Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Cenovus Stock.

What's the current price of Cenovus Stock?
As of the end of day on the 2024-03-28, the price of an Cenovus (CVE) share was $19.99.

What is the 52-week high and low for Cenovus Stock?
The 52-week high for Cenovus Stock is $21.37 and the 52-week low is $14.69.

What is the market capitalization of Cenovus Stock?
As of the 2024-03-28, the market capitalization of Cenovus is 37.419B.

When is the next earnings date for Cenovus?
The upcoming earnings date for Cenovus is Apr 24, 2024.
Click to get the best stock tips daily for free!

About Cenovus Energy Inc

Cenovus Cenovus Energy Inc., together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan. This segments Foster Cree... CVE Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT