Ovintiv Stock Forecast
Ovintiv stock price up 0.99% on Friday
(Updated on May 17, 2024)
The Ovintiv stock price gained 0.99% on the last trading day (Friday, 17th May 2024), rising from $49.30 to $49.79. During the last trading day the stock fluctuated 1.87% from a day low at $49.25 to a day high of $50.17. The price has fallen in 6 of the last 10 days and is down by -3.4% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 92 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $125.08 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $48.35 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.52% during the next 3 months and, with a 90% probability hold a price between $51.99 and $61.69 at the end of this 3-month period.
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OVV Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ovintiv stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $49.93 and $52.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ovintiv stock
Ovintiv finds support from accumulated volume at $49.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.92 (1.87%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OVV) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ovintiv Inc. to open at $49.74, and during the day (based on 14 day Average True Range), to move between $48.62 and $50.96, which gives a possible trading interval of +/-$1.17 (+/-2.35%) up or down from last closing price. If Ovintiv Inc. takes out the full calculated possible swing range there will be an estimated 4.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.41 (0.76%) than the resistance at $50.46 (1.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ovintiv Inc. stock A Buy?
The Ovintiv stock holds several negative signals and despite the positive trend, we believe Ovintiv will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.455 Sell Candidate Unchanged
Predicted Opening Price for Ovintiv Inc. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$49.74 ( 0.107%) | $49.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OVV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.66 | 1.74 % | |
R2 | 50.31 | 1.03 % | ||
R1 | 50.09 | 0.599 % | ||
Current price: | 49.79 | |||
Support | S1 | 49.39 | -0.81 % | |
S2 | 49.17 | -1.25 % | ||
S3 | 48.82 | -1.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 52.51 | 5.46 % | |
R2 | 50.91 | 2.25 % | ||
R1 | 50.46 | 1.35 % | ||
Current price | 49.79 | |||
Support | S1 | 49.41 | -0.763% | |
S2 | 49.20 | -1.18% | ||
S3 | 47.85 | -3.90% |
OVV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 07, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.300 | 0.602% |
2 | Feb 27, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.300 | 0.578% |
3 | Nov 07, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.300 | 0.683% |
4 | Jul 27, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.300 | 0.631% |
5 | Apr 02, 2023 | Jun 14, 2023 | Sep 29, 2023 | $0.300 | 0.631% |
FAQ
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