Ovintiv Inc. enganges in exploration and production of natural gas and oil. IBD gives it a #4 Rank in its industry and has a IBD Relative Strength rating of 98. Its clear that is one of the leaders of the oil industry.
The stock is making a good cup & handle pattern as a 3th base with a pivot buy just above $41. One thing that I like is that just below the pivot has made two inside bars, that is a really good contraction in volatility that may help to a good upside move.
For the nine months ended 30 September 2021,
OVV
revenues increased 17%. Revenues reflect MarketOptimization segment increase of 94%, USAOperations segment increase of 24%, UnitedStates segment increase of 24% to $2.87B.
Still the market conditions aren't very encouraging so I will start very small and add up if it follows through.
The stock is making a good cup & handle pattern as a 3th base with a pivot buy just above $41. One thing that I like is that just below the pivot has made two inside bars, that is a really good contraction in volatility that may help to a good upside move.
For the nine months ended 30 September 2021,
OVV
revenues increased 17%. Revenues reflect MarketOptimization segment increase of 94%, USAOperations segment increase of 24%, UnitedStates segment increase of 24% to $2.87B. Still the market conditions aren't very encouraging so I will start very small and add up if it follows through.
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