Stock Price Prediction

Technical Analysis: Based on the latest technical indicators for CVE, the stock shows bearish signals:

• RSI (14) at 42.67 indicates neutral momentum but trending downward
• MACD shows weak positive momentum with minimal bullish divergence (0.05)
• Stochastic RSI (14) at 70.21 suggests overbought conditions
• Price is trading below both SMA-200 ($17.30) and SMA-250 ($17.69), indicating bearish long-term trend

Price Target Analysis: Recent analyst actions point to downward pressure:

• Raymond James lowered target from C$33 to C$31
• RBC Capital reduced target from C$26 to C$25
• National Bank downgraded to Sector Perform

Support/Resistance Levels: Based on Fibonacci levels:

• Resistance 1: $15.60
• Resistance 2: $15.88
• Support 1: $14.71
• Support 2: $14.43

Price Prediction for Next Week: Given the technical indicators and recent analyst downgrades, CVE is likely to test lower support levels:

• Target Price: $14.43 (Support 2 level)
• Probability: 70% chance of reaching this target based on bearish momentum
• Key catalysts: Continued oil price volatility and broader market sentiment

Recommendation: SELL Rationale:

• Multiple analyst downgrades
• Bearish technical indicators
• Trading below key moving averages
• Overbought conditions on stochastic RSI
• Weak MACD momentum

Set stop-loss at $15.60 (Resistance 1) to manage downside risk.