CVE trade ideas
Swing Trading: Catching Up with Cenovus (TSX:CVE)Cenovus Energy seems to be swinging wildly as it gets ready to settle in for the winter.
Here are two trades picked up by our AllTradeSignals Volume Pressure Gauge over the past couple of weeks:
Trade #1 - 10% gain in 9 days
Trade #2 - 6.5% gain in 1 hour (!)
(Side note: For me, trade #2 is still "open" as I feel like there's room to run. But you could have taken profit there for an easy 5% once it started to drop.)
16% in two trades... enough to upgrade your family's Christmas gifts.
Interested in the AllTradeSignals Volume Pressure Gauge? Get in touch with us here on TradingView!
CVE Bullish Structure - Possible Elliott Wave AnalysisCVE is looking to start a new set of impulse waves that could close the triangle bottom formation and breakout.
Cenovus Energy reversal-56 Week double bottom
-Daily 50SMA is crossing above the 200SMA with both pointing upwards
-Contracting volume as pattern matures
40 basis points (slight increase)
Am a buyer above 14.66
Will take profits just below measured move
Daily Bear trend line still in play: CVEAs you can see, CVE was unable to break this key resistance line which has been in play on the daily chart. It is looking highly probable that we break down to lower lows as there was a lot of selling off once we reached that resistance point today.
Bullish divergence setting upSlowing downside momentum within an improving oil market and oversold natgas environment.Over $9.63 is a short term breakout on the 1 hour chart
CVE is a Great Long Term Bet on OilFor this setup to work, CVE will need to hold the support at $7.0 in the next few days and then rise quickly and decisively after that.
Cenovus Energy Bullish Shark Noted a Bullish Shark completion on Cenvus Energy (CVE / CVE.TO) -Expecting a correction after double bottom or with news .. targets listed on chart
