Taking this into account, A number of analysts have revised their coverage, including Desjardins’s analysts, who decreased its forecast for the stock in late April from “a Buy” to “a Hold”. UBS began covering CNQ with “Buy” recommendation on July 12, 2023.
Price Performance Review of CNQ
On Tuesday, Canadian Natural Resources Ltd. [NYSE:CNQ] saw its stock fall -0.89% to $34.41. Over the last five days, the stock has lost -2.96%. Canadian Natural Resources Ltd. shares have risen nearly 5.04% since the year began. Nevertheless, the stocks have risen 8.46% over the past one year. While a 52-week high of $41.29 was reached on 04/11/24, a 52-week low of $29.45 was recorded on 02/13/24. SMA at 50 days reached $34.85, while 200 days put it at $35.46.
Levels Of Support And Resistance For CNQ Stock
The 24-hour chart illustrates a support level at 34.04, which if violated will result in even more drops to 33.67. On the upside, there is a resistance level at 34.82. A further resistance level may holdings at 35.22. The Relative Strength Index (RSI) on the 14-day chart is 43.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.38%. Stochastics %K at 15.92% indicates the stock is a buying.
How much short interest is there in Canadian Natural Resources Ltd.?
A steep rise in short interest was recorded in Canadian Natural Resources Ltd. stocks on 2024-10-15, dropping by -141.61 million shares to a total of 50.78 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 192.39 million shares. There was a decline of -278.84%, which implies that there is a negative sentiment for the stock.
