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Cenovus Energy Bullish Moving Average Crossover Alert (CVE)

By Amy Schwartz

Cenovus Energy (NYSE:CVE) shares have crossed bullishly above their 10-day moving average of $14.89 on a volume of 445K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Cenovus Energy have traded between a low of $9.10 and a high of $19.28 and are now at $15.02, which is 65% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.6%.

SmarTrend recommended that subscribers consider buying shares of Cenovus Energy on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.61. Since that recommendation, shares of Cenovus Energy have risen 27.3%. We continue to monitor CVE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses cenovus energy

Ticker(s): CVE