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Canadian Natural Resources (CNQ) Trading Near $36.86 Resistance Level

Nov 10, 2017 ( via COMTEX) --

Canadian Natural Resources (<a href="">CNQ</a>) closed Nov 9, 2017 at $36.45 and technical indicators recently have been bearish. With those figures in place, the algorithms behind's Artificial Intelligence Center have identified a couple of attractive trading opportunities in Canadian Natural Resources for today. For investors looking for a high return, a diagonal spread pairing a long position in the Jan 18, 2019 $18 call and a short position in the Jan 19, 2018 $36 call for a net debit of about $17.25. This trade has an assigned return of 4.34% and 3.29% downside protection. For more a more conservative play, look at a covered call using the Jan 19, 2018 $36 call for a $17.25 net debit. This trade has an assigned return of 3.44% but the downside protection increases to 4.52%. Over the last 52 weeks the stock has traded between $27.52 and $36.79.A

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