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Cenovus Energy Inc T.CVE

Alternate Symbol(s):  CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G

Energy Oil & Gas Integrated
Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.


TSX:CVE - Post by User

Cenovus Energy Inc
Bullboard Posts
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Comment by GasPro2017on Aug 21, 2020 11:12pm
175 Views
Post# 31441023

RE:RE:RE:RE:RE:RE:RE:RE:They are going to fill the gap at $5.96

RE:RE:RE:RE:RE:RE:RE:RE:They are going to fill the gap at $5.96The gap is measured from the close of the previous day (not the high of the previous day)

On July 31st, the stock closed at $5.96. This is the price that the next day's trading gets compared to as far as gaps are concerned (check the price history on SH)

The next trading day, Aug 4th, the stock never got lower than $6.01. So there is a gap between $6.01 and $5.96 that will probably get filled.

I anticipate this will happen on Monday, regardless of whether oil has a good or bad day. It is so close to $5.96, I'd argue that even the bulls would like to see it get filled -then they don't have to worry about it anymore.

In fact, it probably becomes a self fulfilling prohecy as many investors will wait till it drops to $5.96 to buy -so the sellers outweigh the buyers until it happens.


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