Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Canadian Natural Resources (CNQ) Showing Bearish Technicals With Support At $35.60

Nov 07, 2017 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Canadian Natural Resources (<a href="http://www.marketintelligencecenter.com/symbol/CNQ">CNQ</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms recommend the Jan 19, 2018 $36 covered call for a net debit in the $34.87 area. That is also the break-even stock price for the covered call. This trade will return 3.21%, or 16.05% annualized (for comparison purposes only), in 73 days. This covered call also provides 5.03% downside protection. The current 52-week low is $27.52 and the 52-week high is $36.78. Canadian Natural Resources stock has been showing support around $35.60 and resistance in the $37.35 range. The stock closed Nov 6, 2017's trading session at $36.72. Technical indicators for the stock are bearish and S&P gives CNQ a 5 STARS (out of 5) strong buy ranking.

(C) Copyright 2017, Marketintelligencecenter.com. All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 56.68
Nat Gas 3.132
Corn 343
Cotton #2 69.35
Gold 1294.4
Copper 3.0715
Euro 1.18085
USD Index 93.575
SP500 E-mini 2575.75
DJIA E-mini 23316
close_icon
open_icon