The Hourly View for CVE
Currently, CVE (Get Ratings)’s price is up $0.07 (0.91%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
CVE’s Technical Outlook on the Daily Chart
At the moment, CVE’s price is up $0.12 (1.63%) from the day prior. This move is a reversal from the day prior, which saw price move down. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Cenovus Energy Inc’s price action over the past 90 days can be seen via the chart below.
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The post Cenovus Energy Inc (CVE): Price Now Near $7.79; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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