So the cost of energy is rising. The price of crude oil is also rising.
Because of this, I expect that the price of Ovintiv to reach the multi year resistance.
Ovintiv Inc
Long
Enter: Market Price
Take Profit: 45.81 (5.52%)
Stop Loss: 41.19
R:R Ratio: 1.40
Chart is an upward trend, making higher highs and higher low. Price is bouncing off daily support level
Its just breach cloud right now and i dont see any hindrance or any reason to doubt that it will not go pump this since as you see it was on accu/conso stage on the bottom even tenkan sen and kijun sen showing an indication of pointing upwards
$OVV nice 4 volatility contractions in this base with last 3 days putting in a mini coil and one of its most constructive looking pivots.
#oil stocks been holding up much better than the commodity itself.
So tight you wont fined a lower risk entry than this.
Interesting.
Quick post - Falling wedge breakout on 3 day chart here, regardless of how you draw the trendline for the top of the wedge.
OBV rising substantially faster than it has throughout this stock's history.
Weekly 50/200 EMAs show a golden cross.
1.5x target approaches previous ATH, wouldn't take much extra for us to see ATH again or even a new ATH.
Transition will be made understandable, but meanwhile the actual infrastructure is threatening for any opponent so is here to stay for a generation.
Oil is a necessity not a luxury.
Wait for confirm on the breakout, (you know what I mean).
Be wise don´t work for money, make money work for you.
Ovintiv Inc. enganges in exploration and production of natural gas and oil. IBD gives it a #4 Rank in its industry and has a IBD Relative Strength rating of 98. Its clear that is one of the leaders of the oil industry.
The stock is making a good cup & handle pattern as a 3th base with a pivot buy just above $41. One thing that I like is that just below the pivot...
Stock in current up trend
Form a cup and handle
Form VCP pattern
There is high chance of break above 41 then can place a trade with risk at 38, innitial stop loss below previous day low.
Target PL at 51 or ride trend
$OVV rebounded at 200DMA. still in a HTF consolidated range below AVWAP but definitely looks promising. will discard this from watchlist if 200D does not hold in near term
OVV cup'n handle on the weekly chart.
Not confirmed yet. Still needing to break through 33$ resistance.
Not all indicators are go. But this stock is following the current trend in ressources (bullish).
If confirmed:
Price target = 63.75$
Stay humble, have fun, make money!
I expect a share price in the next weeks.
The company said it issued a notice to the trustee of its 5.75% notes due 2022 to redeem the entire $600 million aggregate principal amount on June 18.
Ovintiv also expects to redeem the entire $518 million of 3.90% notes due 2021 at par in mid-August, the company said....
Hello traders, OVINTIV is in a bullish movement with a return of traded buy volume and a water-carrying candle followed by the marked rising leg. In the TIMEFRAME M1 we can see an inverted hammer candle with a weak explosion of the emitted sales volume, it goes in the direction of its last lowest. Make its swallow test the lowest of the bollinger as well as its...
MACD H ticked up on 30 Dec 20 and OVV was in a clear uptrend. Weekly chart not shown but also in an uptrend. Bought OVV on 04/01/21 for 15,08
First successful trade in 2021 but the entry was a little bit late because of the christmas holiday.
R:R 2:1
