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Cenovus Energy: Here's What Would Get the Rally Restarted

Cenovus Energy: Here's What Would Get the Rally Restarted

Cenovus Energy Inc. is involved in the oil and natural gas value chain -- in exploration, production, refining, transportation and retail. In the daily bar chart of CVE, below, we can see that the shares have pulled back to successfully retest the rising 200-day moving average line in July and early August. The On-Balance-Volume (OBV) line weakened in July and August telling us that sellers of CVE were more aggressive.