Ovintiv Inc - OVV (Long)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
OVV
$XLE - Weakness in the Energy Sector Could Bring Stage 4 DeclineThe Energy sector is notoriously one of the last to roll over in a recessionary environment and the $XLE chart appears to be topping out right on queue.
After a euphoric run beginning in the middle of 2020, the Energy sector has stalled out creating a triple top near the $90 level.
With the break of the 200-day moving average, along with an accompanying bearish momentum regime in the RSI, we expect the Energy sector to begin its descent into a Stage 4 decline.
Many individual stocks within the Energy sector look prime for capitulation events and accompanying sector weakness would further aggravate already anemic charts.
PT near 60.
Long | OVVNYSE:OVV [/symbol
Possible Scenario: LONG
Evidence: Price action
It's my idea and could be wrong 100%
Oil industry for 10 years more for sureTransition 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.
#OVV - Cup and handle formationObservation - may be a cup and handle next few days/weeks. PVT looking bullish with accumulation and RSI needs to go above 50.
Ovintiv Inc. $OVV near pivot buyOvintiv 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 has made two inside bars, that is a really good contraction in volatility that may help to a good upside move.
For the nine months ended 30 September 2021, NYSE:OVV revenues increased 17%. Revenues reflect MarketOptimization segment increase of 94%, USAOperations segment increase of 24%, UnitedStates segment increase of 24% to $2.87B.
Still the market conditions aren't very encouraging so I will start very small and add up if it follows through.
OVV- Bullish VCP pattarnStock 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
US Stock In Play: $OVV$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 daily and 4hr looks bullish. could be a trap?charts make it look like it could go to 28
macd crossing on daily
lot of volume
OVV, enters Uptrend as Momentum ascends above 0 level on Nov 02This indicator may be signaling that OVV's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. Tickeron A.I.dvisor backtested 87 similar cases where OVV's Momentum Indicator exceeded 0, and 74 of them led to a successful outcome. Odds of Success: 85%. Current price $9.65 crossed the resistance line at $9.51 and is trading between $9.81 support and $9.51 resistance lines. Throughout the month of 10/01/20 - 11/02/20, the price experienced a +31% Uptrend. During the week of 10/26/20 - 11/02/20, the stock enjoyed a +6% Uptrend growth.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where OVV's RSI Indicator exited the oversold zone, 21 of 29 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 72%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. Tickeron A.I. detected that in 44 of 57 cases where OVV's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 77%.
The Momentum Indicator moved above the 0 level on November 02, 2020. You may want to consider a long position or call options on OVV as a result. Tickeron A.I. detected that in 74 of 87 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 85%.
The Moving Average Convergence Divergence (MACD) for OVV just turned positive on November 02, 2020. Looking at past instances where OVV's MACD turned positive, the stock continued to rise in 33 of 42 cases over the following month. The odds of a continued upward trend are 79%.
OVV moved above its 50-day Moving Average on November 02, 2020 date and that indicates a change from a downward trend to an upward trend.
Following a +6.58% 3-day Advance, the price is estimated to grow further. Considering data from situations where OVV advanced for three days, in 216 of 279 cases, the price rose further within the following month. The odds of a continued upward trend are 77%.
OVV may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. Tickeron A.I. detected that in 153 of 212 cases where OVV Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 72%.
OVV - Long setup OVV - Looks strong! Lots of buying from $15 in February all the way down to $2.45 in March from multiple insiders. Stop 4.83, Looking for a break above $6.03. First target 11.43, Second Target 13.93.
