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June 30, 2024, 6:20 PM ET, BY Robert S. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for CVE

• Buy CVE just above 18.99, target 21.2, stop loss at 18.94 details

The technical summary data tells us to buy CVE at 18.99 with an upside target of 21.2. This data also tells us to set a stop loss at 18.94 to protect ourselves from excessive losses in case the stock starts moving against the trade. 18.99 is the first level of support below 19.66, and any test of support is usually a buy signal. In this case, the support at 18.99 is tested, a buy signal would be present.

• Short CVE just below 21.2, target 18.99, stop loss at 21.26 details

The technical summary data suggests a short of CVE as it approaches 21.2, with a downside target of 18.99. However, we should place a stop loss at 21.26. 21.2 is the first resistance level above 19.66, and any test of resistance is usually a short signal. In this case, a short signal would be present if the 21.2 resistance is tested.

Swing trading plans for CVE

• Buy CVE just above 19.91, target 21.2, stop loss at 19.85 details

If 19.91 starts to rise, the technical summary data tells us to buy CVE just above 19.91, with an upside target of 21.2. The data also tells us to set a stop loss at 19.85 in case the stock turns against the trade. 19.91 is the first resistance level above 19.66, and any break above resistance is usually a buy signal. In this case, 19.91, the initial resistance, would rise to the upside, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short CVE just near 19.91, target 19.22, stop loss at 19.97. details

The technical summary data suggests a short of CVE if 19.91 is tested with a downside target of 19.22. However, we should place a stop loss at 19.97 in case the stock starts moving against the trade. Any test of resistance is basically a short signal. In this case, a short signal would be present if the resistance at 19.91 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Day trading plans for CVE

• Buy CVE just above 19.91, target 21.2, stop loss at 19.86 details

If 19.91 starts to rise, the technical summary data tells us to buy CVE just above 19.91, with an upside target of 21.2. The data also tells us to set a stop loss at 19.86 in case the stock turns against the trade. 19.91 is the first resistance level above 19.66, and any break above resistance is usually a buy signal. In this case, 19.91, the initial resistance, would rise to the upside, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short CVE just near 19.91, target 19.22, stop loss at 19.96. details

The technical summary data suggests a short of CVE if it tests 19.91 with a downside target of 19.22. However, we should place a stop loss at 19.96 in case the stock starts moving against the trade. Any test of resistance is basically a short signal. In this case, a short signal would be present if the resistance 19.91 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Check the timestamp of this data. Updated AI-generated signals for Cenovus Energy Inc (CVE) available here: CVE-2019-01-23.

CVE ratings for June 30:

AI-generated signals for CVE

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This report was created using an AI developed by Stock Traders Daily. Over the last 20 years, this proprietary AI has been refined to identify the most favorable trading strategies for both individual stocks and the stock markets themselves. This method is also applied to index options, ETFs and futures. The goal of this specific report is to optimize trading in Cenovus Energy Inc (NYSE: CVE) while incorporating prudent risk controls.

Warning:

This is a static report. The data below was valid at the time of publication, but support and resistance levels for CVE change over time so the report should be updated regularly. Subscribers get real-time updates. Unlimited real-time reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection against market downturns with Evitar Corte.

Instructions:

The rules that govern the data in this report are the rules of technical analysis. For example, when CVE tests support, buy signals emerge and resistance is the target. Conversely, a test of resistance is a sign to control risk or sell, and support would be the downside target accordingly. In any case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel) and to act as a risk control level.

Swing trades, day trades and longer-term trading plans:

This data is refined to also differentiate trading plans for day trading, swing trading and long-term investment plans for CVE. All of these are offered below the summary table.