While this happened, UBS upgraded its Cenovus Energy Inc [CVE] rating to a Buy from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Scotiabank’s analysts, who increased its forecast for the stock in early September from “a Sector perform” to “a Sector outperform”. UBS began covering CVE with “Neutral” recommendation on July 12, 2023. Goldman revised its rating on June 06, 2023. It rated CVE as “a Buy” which previously was an “a Neutral”.
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Price Performance Review of CVE
On Tuesday, Cenovus Energy Inc [NYSE:CVE] saw its stock fall -3.70% to $17.68. Over the last five days, the stock has gained 3.03%. Cenovus Energy Inc shares have risen nearly 6.71% since the year began. Nevertheless, the stocks have fallen -8.42% over the past one year. While a 52-week high of $21.79 was reached on 04/11/24, a 52-week low of $14.62 was recorded on 01/18/24. SMA at 50 days reached $17.92, while 200 days put it at $18.55.
Levels Of Support And Resistance For CVE Stock
The 24-hour chart illustrates a support level at 17.44, which if violated will result in even more drops to 17.21. On the upside, there is a resistance level at 17.97. A further resistance level may holdings at 18.26. The Relative Strength Index (RSI) on the 14-day chart is 52.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.81, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.37%. Stochastics %K at 82.42% indicates the stock is a selling.
How much short interest is there in Cenovus Energy Inc?
A steep rise in short interest was recorded in Cenovus Energy Inc stocks on 2024-09-13, growing by 14.76 million shares to a total of 27.15 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 12.39 million shares. There was a rise of 54.37%, which implies that there is a positive sentiment for the stock.
