pool adsHow to trade Canadian Natural $CNQ With Risk Controls
Price matters most to making money in the market. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Canadian Natural (NYSE: CNQ) report below can help you, but we have more details too. The trading plans for CNQ, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Strong | Neutral |
| P1 | 0 | 0 | 13.22 |
| P2 | 24.97 | 25.86 | 19.16 |
| P3 | 25.80 | 27.80 | 24.69 |
Support and Resistance Plot Chart for CNQ
Long Term Trading Plans for CNQ
January 19, 2021, 12:00 am ET
The Technical Summary and Trading Plans for CNQ help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CNQ Report.
CNQ - (Long) Support Plan
The technical summary data tells us to buy CNQ near 24.69, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 24.62 to protect against excessive loss in case the stock begins to move against the trade. 24.69 is the first level of support below 24.77, and by rule, any test of support is a buy signal. In this case, if support 24.69 is being tested, a buy signal would exist.
CNQ - (Short) Resistance Plan
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
