Ovintiv Inc (OVV): Price Now Near $30.82; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for OVV

At the time of this writing, OVV (Get Ratings)’s price is down $-0.21 (-0.66%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as OVV has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Out of Petroleum and Natural Gas stocks, OVV ranks 69th in regards to today’s price percentage change.

OVV’s Technical Outlook on the Daily Chart

Currently, OVV’s price is down $-0.12 (-0.4%) from the day prior. OVV has seen its price go up 8 out of the past 10 days, thus creating some compelling opportunities for bulls. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Ovintiv Inc’s price action over the past 90 days can be seen via the chart below.

OVV

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