CNQ Price Prediction Next Week
Based on the provided data and current market conditions, here's the analysis for CNQ's price prediction for next week:
Technical Analysis
The technical indicators show CNQ is currently trading at $31.63 with key Fibonacci levels indicating:
- Resistance levels: R1 at $33.01, R2 at $33.71, R3 at $34.85
- Support levels: S1 at $30.72, S2 at $30.02, S3 at $28.87
- Pivot point: $31.86
The RSI(14) at 46.81 suggests the stock is in neutral territory, neither overbought nor oversold. The MACD at -0.11 indicates slight bearish momentum.
News Impact Recent significant news that could impact CNQ's price:
Trump's potential 25% tariff threat on Canadian imports by February 1st has created uncertainty. This could significantly impact Canadian oil producers like CNQ, potentially forcing them to lower prices to remain competitive.
The company's strong operational performance and growth outlook remains positive, with production expected to grow 12% in 2025.
Price Prediction for Next Week Based on technical analysis and news sentiment:
- Short-term resistance: $33.01
- Short-term support: $30.72
- Expected trading range: $30.72 - $33.01
The stock is likely to face downward pressure early in the week due to tariff concerns, but strong fundamentals and production growth could provide support. The most probable scenario is consolidation between $30.72 and $32.50.
Recommendation: HOLD
- Not recommended to initiate new positions until there's more clarity on the tariff situation
- Current shareholders should maintain positions as the company's fundamentals remain strong
- Set stop-loss orders below $30.02 to protect against potential tariff-related selloff
CNQ Similar Chart Price Prediction
The price of CNQ is predicted to go up 3.57%, based on the high correlation periods with GIFI. The similarity of these two price pattern on the periods is 93.51%.
CNQ
GIFI
Up: 3.57%Similarity: 93.51%