Shares of Cenovus Energy Inc (CVE) Sees Large Outflow of Money

Cenovus Energy Inc (CVE): The stock had negative money flow to the tune of ($3.14 million) on Thursday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $1.3 million, whereas, the outflow of money on downticks was $4.43 million and the ratio between the two was 0.29. The block trade had a negative net money flow of ($2.85 million). On the other hand, downticks amounted to $2.85 million of the traded value, which shows distribution in the stock by traders. Cenovus Energy Inc (CVE) closed with marginal gains of 25 cents to end the day at $14.26, an increase of 1.78% over the previous days close. The stock recorded 2.89% for the week.


The stock has recorded a 20-day Moving Average of 2.4% and the 50-Day Moving Average is 2.16%. Shares have dropped -6.30% from its 1 Year high price. On Oct 9, 2015, the shares registered one year high at $17.23 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $14.51 and the 200 Day Moving Average price is recorded at $13.25.

Cenovus Energy Inc (NYSE:CVE): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.26 and $14.09 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.33. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.26, notching a gain of 1.78% for the day. The total traded volume was 1,842,024 . The stock had closed at $14.01 on the previous day.

Cenovus Energy Inc. is a Canada-based integrated oil company. The Company is engaged in the development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas in Canada with refining operations in the United States. The Company operates in four segments: Oil Sands segment, engaged in the development and production of Cenovuss bitumen assets at Foster Creek, Christina Lake and Narrows Lake, as well as projects in the early-stages of development, such as Grand Rapids and Telephone Lake, and Athabasca natural gas assets; Conventional segment, engaged in the development and production of conventional crude oil, natural gas liquids (NGLs) and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake; Refining and Marketing segment, engaged in the transporting, selling and refining crude oil into petroleum and chemical products.

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