Canadian Natural Resources Limited (CNQ) Shares are Up 8.13%

Canadian Natural Resources Limited (CNQ) : Traders are bullish on Canadian Natural Resources Limited (CNQ) as it has outperformed the S&P 500 by a wide margin of 1.14% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.96%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.13% in the last 1 week, and is up 0.6% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 5.5% and the 50-Day Moving Average is 4.02%.The 200 Day SMA reached 19.46%


Canadian Natural Resources Limited (NYSE:CNQ): The stock was completely flat for the day, closing at $32.04 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $32.17, the stock touched an intraday high of $32.39 and a low of $31.99. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $32.04. The total trading volume on Friday was 2,031,827.

Canadian Natural Resources Limited (CNQ) stock is expected to deviate a maximum of $8.03 from the average target price of $36.11 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $50 and the most muted being $26.

Canadian Natural Resources Limited is an independent crude oil and natural gas producer. The Companys diversified, balanced resource base consists of both dry and liquids-rich natural gas, heavy crude oil, bitumen, medium and light crude oil and synthetic crude oil. Its reserves were approximately 8.89 billion barrel of oil equivalent. Its segments include North America, North Sea, Offshore Africa, Oil Sands Mining and Upgrading, and Midstream. It has a portfolio of assets with production and development of both natural gas and crude oil. North America serve as its main operations with international exposure provided through operations in the United Kingdom portion of the North Sea and Offshore Africa.

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