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Canadian Natural Resources Limited

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CNQ trade ideas

CNQ - Time for some profit taking?CNQ - Canadian Natural Resources looks to be forming a classic Wyckoff Distribution pattern after this massive run up. I think it is time for some profit taking. A mild winter could produce a weak earnings report in February as demand for oil/gas is down. Natural gas prices remain down and I believe oil has room to reset. Pair these factors with CNQ at or near all time highs and it could be a good recipe for some coming downward momentum. Not Financial advice. Manage your own risk.
TSX:CNQShort
by Scottjk66
CNQ - 10 months HEAD & SHOULDERS CONTINUATION══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
TSX:CNQLong
by TheArtOfCharting
2
🐻 BEARISH FLATS ON FLATS #CNQ 🍁📉Hello Traders, As we delve deeper into our market analysis, it's imperative that we pay attention to a commonly overlooked phenomenon in price action trading: the persistence of flat structures. These structures are fascinating because they offer both technical simplicity and profound insights into market sentiment. They are easy to catch with the eye and offer a great accurate turning point when reaching the high or lows of A and C waves. In the chart above we can see 3 flats, 2 regular and 1 contracting. The difference between the 2 is the following. In a contracting flat: Wave A is an impulsive wave retracing the impulse. Wave B reverses wave A's movement but does not exceed the start of wave A. Wave C is an impulsive wave in the direction of wave A, ending before the end of wave A, and not beyond the start of wave B. In a regular flat: Wave A is an impulsive wave retracing the impulse. Wave B reverses wave A's movement and ends near the start of wave A but not beyond it. Wave C is an impulsive wave in the direction of wave A, usually ending slightly beyond the end of wave A. And it looks like #CNQ is making a regular flat to continue to bearish trend, look for sell setups!
TSX:CNQShort
by optimizedtrading
Canada the big winner of energy?Energy markets are currently trying to find their footing. The loss of Russian crude to sanctions and the war in Ukraine has caused an impulse wave in the market. My last energy post was about the long term more generally being short on oil. Short-term the disruption will cause elevated prices for a while followed by a turndown. Due to growth in energy use worldwide even if the hydrocarbons share of the market shrinks due to green energy demands for decarbonization LNG still overall gets bigger. Waves of price action will depend on supply changes in both quantity and source through that transition. Waves of consumption and thus demand changes affect Europe negatively due to the current Ukrainian war along with emerging markets' needs for energy increasing for the next few decades till 2040. There is an exception if the G7 decides sanctions should stay on Russia long term. If Europe hits its storage targets for LNG and crude for winter they will have a moment to breathe and look around for a long-term solution to their problem. Canada offers a lot of solutions using LNG and could be one of if not the big beneficiary of the long-term needs of an expanding energy market through 2040. Exports on the coasts for LNG from North America generally could fill the gap left by Russia and meet demand from the emerging economies. From the government of Canada's website. "Eighteen LNG export facilities have been proposed in Canada – 13 in British Columbia, 2 in Quebec, and 3 in Nova Scotia – with a total proposed export capacity of 216 Million tons per annum (mtpa) of LNG (approximately 29 Billion cubic feet per day (Bcf/d) of natural gas). Since 2011, 24 LNG projects have been issued long-term export licenses. Canada’s only operational LNG terminal (an import terminal) is Canaport LNG’s regasification import terminal located in Saint John, New Brunswick." Fliping this infrastructure to export will be a big job but if done quickly enough it can be used to avoid the use of coal worldwide in emerging economies and fix Europe's problems during the green transition. To be fair building out base load in the form of Nuclear energy is far more preferable with hydro storage and then variable load in the form of solar and wind. In the opinion of this author however better is better for emissions and short-term use of LNG to limit coal consumption is a good idea. Just don't let the Koch think tanks trumpet their own horn too much. The unfortunate use cases of nuclear fuel for reactors to make bombs as North Korea has demonstrated presents a geopolitical tool that would be far too easy to use and thus is limiting the expansion of the technology. Canada seems positioned to take advantage of exporting its resources to the rest of the world filling a gap left by Russia. It's a good opportunity for Canada. Time will tell if they take advantage of it. All the best, see you on the moon.
NYSE:CNQ
by GreatScottTheMoon
Canadian Natural CanadaSun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
TSX:CNQ
by Sunstorminvest
Parabolic ArcPrice is beneath the bottom band set on an 80 DMA, so stretched to the downside today. Probable bounce to the upside soon. An Arc is formed when price virtually goes almost straight up and can be better seen on a weekly or monthly chart. This pattern makes it worth checking a security on longer time frames if you plan to buy stocks at a high price. Folks are super bullish inside an Arc. Most fall between 50 and 79% of the rise up, but they can fall less or more than this amount. Price is volatile on the way down as a rule. No recommendation. Weekly chart:
NYSE:CNQShort
by lauralea
WOW!!Steep climb. This is a monthly chart Overbought on monthly with RSI on 80 versus 70, but not on weekly or daily timeframes. Price is hovering below 70.60 which is an ATH. I am laying low for this market rally and thought I would look at energy. Holy cow! This one is still going strong! Makes you scratch your brain and think, Why didn't I buy this at 6.71? LOL If this ever falls, the .382 fib level is at 44.55 , the 50% is at 37.23, the .618 = 29.95 and the .786 = 19.77 but that is if this does not make another high which would change the fib table. No recommendation/Short interest is less than 1.5% and negative volume remains very high. EPS ( FWD ) 9.04 PE ( FWD ) 7.27 Div Rate ( FWD ) $2.33 Yield ( FWD ) 3.55% Short Interest 1.35% Market Cap $74.28B 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 Primrose. As of December 31, 2020, the company had total proved crude oil , bitumen, and NGLs reserves were 10,528 million barrels (MMbbl); total proved plus probable crude oil , bitumen, and NGLs reserves were 13,271 MMbbl; proved SCO reserves were 6,998 MMbbl; total proved plus probable SCO reserves were 7,535 MMbbl; proved natural gas reserves were 12,168 billion cubic feet (Bcf); and total proved plus probable natural gas reserves were 20,249 Bcf. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.
NYSE:CNQ
by lauralea
5
CNQ indicating it's ready to move higher!* Great earnings with acceleration * On the longer time frames, it's mostly sideways but has started a new up trend * High relative strength in the Energy sector * Broke out of a ~4 month basing pattern before making the leg higher. * Consolidated in a tight range of 3.77% before breaking out again * Maximum probable ROI for this trade would be around 26.70% Trade Idea: * Now's the perfect time to get in as the price is still close to the broken range * Broke out with very high volume (178.08% of the consolidation average) * This can also be considered a Pocket Pivot breakout; indicating institutional interest
NYSE:CNQLong
by HaseebKhan_90
CNQ Canadian Natural Resources LimitedCompany Description: Canadian Natural Resources Limited is a senior independent oil and natural gas exploration, development and production company based in Calgary, Alberta. The Company's operations are focused in Western Canada, the North Sea and Offshore West Africa. Analysis: Canadian Natural Resources is an oil and gas company within the energy sector! I believe that oil at the minimum is in high demand right now with high those prices are. They deal in the oil and gas exploration side of the business. They cover a decent range of space and with oil and gas, I like to make sure I invest in it like an ETF having more than one company to make sure I cover as much area as possible within the world. This is a natural resource so it has MOAT within itself without much need for marketing. Impressed with how this company has been handling their cash , expenses, and debt. Since March 2001,this company has been consistently increasing its dividend payouts while being able to sustain their cashflow to some degree. I like their reach and having an oil company outside of the US (even though they have property in NA) is a good deal in my opinion. I would like to see price break resistance obviously. However, I need to be realistic. Although I consider this stock to be undervalued, I believe that price is in the middle of testing a strong support level. I want to see strong bullish candles on the 30 min or 1 hour near support to start slowly scaling in considering the state of the economy. My uncle buffet said to never put your whole foot in the water before testing the temperature! I have bearish candles trading under my closer ranged ema's so I want to see how this plays out! What do you think? Not Financial Advice I only share ideas!
NYSE:CNQ
by Redimere_91