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AI Analysis of OVV
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Red day on Thursday for Ovintiv
(Updated on Apr 11, 2024)

Buy or Hold candidate since Feb 16, 2024 Gain 22.37% PDF

The Ovintiv stock price fell by -1.19% on the last day (Thursday, 11th Apr 2024) from $55.52 to $54.86. During the last trading day the stock fluctuated 2.68% from a day low at $54.16 to a day high of $55.61. The price has risen in 8 of the last 10 days and is up by 6.81% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -470 thousand shares and in total, 3 million shares were bought and sold for approximately $144.69 million.

The stock lies in the middle of a 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 39.72% during the next 3 months and, with a 90% probability hold a price between $73.40 and $78.36 at the end of this 3-month period.

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OVV Signals & Forecast

The Ovintiv stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $55.02. On a fall, the stock will find some support from the long-term average at approximately $50.96. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -1.26%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Ovintiv stock

On the downside, the stock finds support just below today's level from accumulated volume at $50.46 and $49.20. 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, Ovintiv finds support just below today's level at $50.46. If this is broken, then the next support from accumulated volume will be at $49.20 and $47.85.

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 $1.45 between high and low, or 2.68%. For the last week, the stock has had daily average volatility of 1.97%.

Our recommended stop-loss: $52.68 (-3.97%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (OVV) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect Ovintiv Inc. to open at $54.88, and during the day (based on 14 day Average True Range), to move between $53.86 and $55.86, which gives a possible trading interval of +/-$1.00 (+/-1.82%) up or down from last closing price. If Ovintiv Inc. takes out the full calculated possible swing range there will be an estimated 3.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $55.27 (0.75%) than the support at $50.46 (8.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Ovintiv 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 Ovintiv stock to perform well in the short-term.

Current score: 1.521 Buy Candidate Unchanged

Predicted Opening Price for Ovintiv Inc. of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$54.88 ( 0.0304%) $54.86

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 56.33 2.67 %
R2 55.77 1.66 %
R1 55.43 1.04 %
Current price: 54.86
Support S1 54.32 -0.98 %
S2 53.98 -1.60 %
S3 53.43 -2.61 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 55.56 1.28 %
R2 55.52 1.20 %
R1 55.27 0.747 %
Current price 54.86
Support S1 50.46 -8.02%
S2 49.20 -10.32%
S3 47.85 -12.78%

OVV Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 27, 2024 Mar 14, 2024 Mar 28, 2024 $0.300 0.578%
2 Nov 07, 2023 Dec 14, 2023 Dec 29, 2023 $0.300 0.683%
3 Jul 27, 2023 Sep 14, 2023 Sep 29, 2023 $0.300 0.631%
4 Apr 02, 2023 Jun 14, 2023 Sep 29, 2023 $0.300 0.631%
5 Feb 27, 2023 Mar 14, 2023 Mar 31, 2023 $0.250 0.693%

FAQ

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

Should I buy or sell Ovintiv 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 Ovintiv stock to perform well in the short-term.

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

What's the current price of Ovintiv Stock?
As of the end of day on the 2024-04-11, the price of an Ovintiv (OVV) share was $54.86.

What is the 52-week high and low for Ovintiv Stock?
The 52-week high for Ovintiv Stock is $55.95 and the 52-week low is $32.07.

What is the market capitalization of Ovintiv Stock?
As of the 2024-04-11, the market capitalization of Ovintiv is 14.454B.

When is the next earnings date for Ovintiv?
The upcoming earnings date for Ovintiv is May 07, 2024.
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About Ovintiv Inc.

Ovintiv Ovintiv Inc., together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta. Its other upstream assets comprise ... OVV Profile

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