Trading (OVV) With Integrated Risk Controls

November 24, 2024, 23:14 pm ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for OVV

• Buy OVV near 43.59 target 49.33 stop loss @ 43.46 Details

The technical summary data tells us to buy OVV near 43.59 with an upside target of 49.33. This data also tells us to set a stop loss @ 43.46 to protect against excessive loss in case the stock begins to move against the trade. 43.59 is the first level of support below 46.71 , and by rule, any test of support is a buy signal. In this case, support 43.59 is being tested, a buy signal would exist.

• Short OVV slightly under 49.33, target 43.59, stop loss @ 49.47 Details

The technical summary data is suggesting a short of OVV as it gets near 49.33 with a downside target of 43.59. We should have a stop loss in place at 49.47though. 49.33 is the first level of resistance above 46.71, and by rule, any test of resistance is a short signal. In this case, if resistance 49.33 is being tested, a short signal would exist.

Swing Trading Plans for OVV

• Buy OVV slightly over 47.48, target 49.33, Stop Loss @ 47.34 Details

If 47.48 begins to break higher, the technical summary data tells us to buy OVV just slightly over 47.48, with an upside target of 49.33. The data also tells us to set a stop loss @ 47.34 in case the stock turns against the trade. 47.48 is the first level of resistance above 46.71, and by rule, any break above resistance is a buy signal. In this case, 47.48, 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 OVV slightly near 47.48, target 45.94, Stop Loss @ 47.62. Details

The technical summary data is suggesting a short of OVV if it tests 47.48 with a downside target of 45.94. We should have a stop loss in place at 47.62 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, 47.48, 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 OVV

• Buy OVV slightly over 47.59, target 49.33, Stop Loss @ 47.48 Details

If 47.59 begins to break higher, the technical summary data tells us to buy OVV just slightly over 47.59, with an upside target of 49.33. The data also tells us to set a stop loss @ 47.48 in case the stock turns against the trade. 47.59 is the first level of resistance above 46.71, and by rule, any break above resistance is a buy signal. In this case, 47.59, 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 OVV slightly near 47.59, target 46.62, Stop Loss @ 47.7. Details

The technical summary data is suggesting a short of OVV if it tests 47.59 with a downside target of 46.62. We should have a stop loss in place at 47.7 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, 47.59, 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 Ovintiv Inc. (de) (OVV) available here: OVV.

OVV Ratings for November 24:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	37.85
P2	46.62	45.94	43.59
P3	47.59	47.48	49.33

AI Generated Signals for OVV

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