Cenovus Energy Inc T.CVE

My trade remains technical...

[billroth]

After reading every recent posts, i'm still not convinced on the fundamentals here. So my trade remains purely technical. I started buying again below $22 thinking it would test support at $20 but that did not happen this time. So my position is very small, just below $22. Looks like it's finding support at $22 for now. Every break below $22 will be my buying signal to add more.

[ztransforms173]

- WHY 'would' your TECHNICAL SUPPORT LEVEL BE CORRECT NOW @ ~ $ 20 per share when this SHARE PRICE was the ABSOLUTE SUPPORT LEVEL in the PAST 2 YEARS & the company is MUCH STRONGER NOW ? * BOTH FINANCIALLLY & OPERATIONS WISE with 150,000 bbls/d of BOP/COP in the GROWTH STREAM and 20,000 - 30,000 bbls/d coming ON in the next 7 months z173

[billroth]

I agree with you that long term, the absolute support has been at $20.  But, this is "short term" technicals and i may be wrong... but this is what i see. Since mid september, the stock broke below $22 4 times and came right back up above $22 each time with good volume. That's why short term support around $22 seems to be holding... for now ! The last part of your post is