CNQ: The underperformer is gaining some investors attention
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favorable trade setup and plans.
Canadian Natural Resources Limited (NYSE:CNQ) is another stock that is grabbing investors attention these days. Its shares have trimmed -11.79% since hitting a peak level of $35.28 on Dec. 12, 2016. Meanwhile, due to a recent pullback which led to a fall of almost -4.74% in the past one month, the stock price is now with underperforming -2.38% so far on the year — still in weak zone. In this case, shares are 11.94% higher from $27.8, the worst price in 52 weeks suffered on Jun. 16, 2016, but are collecting gains at -0.83% for the past six months.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favorable trade setup and plans.
Canadian Natural Resources Limited (NYSE:CNQ) is another stock that is grabbing investors attention these days. Its shares have trimmed -11.79% since hitting a peak level of $35.28 on Dec. 12, 2016. Meanwhile, due to a recent pullback which led to a fall of almost -4.74% in the past one month, the stock price is now with underperforming -2.38% so far on the year — still in weak zone. In this case, shares are 11.94% higher from $27.8, the worst price in 52 weeks suffered on Jun. 16, 2016, but are collecting gains at -0.83% for the past six months.
Trade closed: target reached