Cenovus Energy Stock Technical Analysis
| CVE Stock | CAD 22.18 0.05 0.23% |
As of the 2nd of December, Cenovus Energy shows the Mean Deviation of 1.37, risk adjusted performance of (0.07), and Standard Deviation of 1.78. Cenovus Energy technical analysis gives you the methodology to make use of historical prices and volume patterns to determine a pattern that approximates the direction of the firm's future prices.
Cenovus Energy Momentum Analysis
Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Cenovus, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to CenovusCenovus |
Cenovus Energy technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
Cenovus Energy Technical Analysis
The output start index for this execution was thirty-six with a total number of output elements of twenty-five. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of Cenovus Energy volatility. High ATR values indicate high volatility, and low values indicate low volatility.
Cenovus Energy Trend Analysis
Use this graph to draw trend lines for Cenovus Energy. You can use it to identify possible trend reversals for Cenovus Energy as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Cenovus Energy price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.Cenovus Energy Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Cenovus Energy applied against its price change over selected period. The best fit line has a slop of 0.01 , which may suggest that Cenovus Energy market price will keep on failing further. It has 122 observation points and a regression sum of squares at 5.44, which is the sum of squared deviations for the predicted Cenovus Energy price change compared to its average price change.About Cenovus Energy Technical Analysis
The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Cenovus Energy on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Cenovus Energy based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on Cenovus Energy price pattern first instead of the macroeconomic environment surrounding Cenovus Energy. By analyzing Cenovus Energy's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Cenovus Energy's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Cenovus Energy specific price patterns or momentum indicators. Please read more on our technical analysis page.
| 2021 | 2022 | 2023 | 2024 (projected) | Dividend Yield | 0.006715 | 0.0181 | 0.0245 | 0.0232 | Price To Sales Ratio | 0.64 | 0.71 | 0.8 | 1.2 |
Cenovus Energy December 2, 2024 Technical Indicators
Most technical analysis of Cenovus help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Cenovus from various momentum indicators to cycle indicators. When you analyze Cenovus charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.
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| Volume Indicators |
| Risk Adjusted Performance | (0.07) | |||
| Market Risk Adjusted Performance | (0.77) | |||
| Mean Deviation | 1.37 | |||
| Coefficient Of Variation | (1,069) | |||
| Standard Deviation | 1.78 | |||
| Variance | 3.17 | |||
| Information Ratio | (0.17) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | (0.78) | |||
| Maximum Drawdown | 9.33 | |||
| Value At Risk | (3.41) | |||
| Potential Upside | 2.61 | |||
| Skewness | (0.35) | |||
| Kurtosis | 0.5146 |
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cenovus Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in Cenovus Stock, please use our How to Invest in Cenovus Energy guide.You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.