Trading (CNQ) With Integrated Risk Controls
January 05, 2024, 00:20 am ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CNQ
- Buy CNQ slightly over 65.44 target 69.94 stop loss @ 65.25 Details
The technical summary data tells us to buy CNQ near 65.44 with an upside target of 69.94. This data also tells us to set a stop loss @ 65.25 to protect against excessive loss in case the stock begins to move against the trade. 65.44 is the first level of support below 66.62 , and by rule, any test of support is a buy signal. In this case, support 65.44 is being tested, a buy signal would exist.
- Short CNQ slightly under 69.94, target 65.44, stop loss @ 70.14 Details
The technical summary data is suggesting a short of CNQ as it gets near 69.94 with a downside target of 65.44. We should have a stop loss in place at 70.14though. 69.94 is the first level of resistance above 66.62, and by rule, any test of resistance is a short signal. In this case, if resistance 69.94 is being tested, a short signal would exist.
Swing Trading Plans for CNQ
- Buy CNQ slightly over 68.1, target 69.94, Stop Loss @ 67.9 Details
If 68.1 begins to break higher, the technical summary data tells us to buy CNQ just slightly over 68.1, with an upside target of 69.94. The data also tells us to set a stop loss @ 67.9 in case the stock turns against the trade. 68.1 is the first level of resistance above 66.62, and by rule, any break above resistance is a buy signal. In this case, 68.1, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short CNQ slightly near 68.1, target 66.11, Stop Loss @ 68.3. Details
The technical summary data is suggesting a short of CNQ if it tests 68.1 with a downside target of 66.11. We should have a stop loss in place at 68.3 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 68.1, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for CNQ
- Buy CNQ slightly over 67.41, target 68.1, Stop Loss @ 67.25 Details
If 67.41 begins to break higher, the technical summary data tells us to buy CNQ just slightly over 67.41, with an upside target of 68.1. The data also tells us to set a stop loss @ 67.25 in case the stock turns against the trade. 67.41 is the first level of resistance above 66.62, and by rule, any break above resistance is a buy signal. In this case, 67.41, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short CNQ slightly near 67.41, target 66.34, Stop Loss @ 67.57. Details
The technical summary data is suggesting a short of CNQ if it tests 67.41 with a downside target of 66.34. We should have a stop loss in place at 67.57 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 67.41, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Canadian Natural Resources Limited (CNQ) available here: CNQ.
CNQ Ratings for January 05:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Strong |
Strong |
| P1 |
0 |
0 |
61 |
| P2 |
66.34 |
66.11 |
65.44 |
| P3 |
67.41 |
68.1 |
69.94 |
AI Generated Signals for CNQ
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for CNQ:
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