Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

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 CNQ
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Canadian Natural Resources stock price ended at $75.47 on Wednesday, after gaining 0.493%.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 22, 2024 Gain 13.88% PDF

The Canadian Natural Resources stock price gained 0.493% on the last trading day (Wednesday, 27th Mar 2024), rising from $75.10 to $75.47. During the last trading day the stock fluctuated 1.81% from a day low at $74.49 to a day high of $75.84. The price has risen in 6 of the last 10 days and is up by 2.1% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $261.57 million.

The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $76.17 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 17.54% during the next 3 months and, with a 90% probability hold a price between $76.39 and $89.54 at the end of this 3-month period.

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CNQ Signals & Forecast

The Canadian Natural Resources 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 $74.57 and $68.72. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -0.435%. 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 Canadian Natural Resources stock

On the downside, the stock finds support just below today's level from accumulated volume at $62.39 and $60.65. 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, Canadian Natural Resources finds support just below today's level at $62.39. If this is broken, then the next support from accumulated volume will be at $60.65 and $59.97.

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 $1.35 between high and low, or 1.81%. For the last week, the stock has had daily average volatility of 1.51%.

Our recommended stop-loss: $72.62 (-3.78%) (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 (CNQ) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Canadian Natural Resources Limited to open at $75.27, and during the day (based on 14 day Average True Range), to move between $74.14 and $76.80, which gives a possible trading interval of +/-$1.33 (+/-1.77%) up or down from last closing price. If Canadian Natural Resources Limited takes out the full calculated possible swing range there will be an estimated 3.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $75.80 (0.44%) than the support at $62.39 (17.33%), 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 Canadian Natural Resources Limited 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 Canadian Natural Resources stock to perform well in the short-term.

Current score: 3.187 Buy Candidate Unchanged

Predicted Opening Price for Canadian Natural Resources Limited of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$75.27 ( 0.269%) $75.47

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

Trading levels for CNQ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 76.62 1.52 %
R2 76.10 0.84 %
R1 75.78 0.414 %
Current price: 75.47
Support S1 74.75 -0.95 %
S2 74.43 -1.37 %
S3 73.92 -2.06 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 75.80 0.437 %
Current price 75.47
Support S1 62.39 -17.33%
S2 60.65 -19.64%
S3 59.97 -20.54%

CNQ Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 01, 2024 Mar 14, 2024 Apr 05, 2024 $0.773 1.02%
2 Dec 07, 2023 Dec 07, 2023 Dec 07, 2023 $0 0%
3 Aug 02, 2023 Sep 14, 2023 Oct 05, 2023 $0.674 1.12%
4 May 04, 2023 Jun 15, 2023 Oct 05, 2023 $0.676 1.12%
5 Mar 02, 2023 Mar 16, 2023 Apr 05, 2023 $0.654 1.11%

FAQ

What is the symbol for Canadian Natural Resources Stock and on which exchange is it traded?
The symbol for Canadian Natural Resources is CNQ and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Canadian Natural Resources 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 Canadian Natural Resources stock to perform well in the short-term.

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

What's the current price of Canadian Natural Resources Stock?
As of the end of day on the 2024-03-27, the price of an Canadian Natural Resources (CNQ) share was $75.47.

What is the 52-week high and low for Canadian Natural Resources Stock?
The 52-week high for Canadian Natural Resources Stock is $75.99 and the 52-week low is $52.52.

What is the market capitalization of Canadian Natural Resources Stock?
As of the 2024-03-27, the market capitalization of Canadian Natural Resources is 80.817B.

When is the next earnings date for Canadian Natural Resources?
The upcoming earnings date for Canadian Natural Resources is May 02, 2024.
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About Canadian Natural Resources Limited

Canadian Natural Resources Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream and refining assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at... CNQ Profile

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