Canadian Natural Resources shares dip amid rising selling pressure

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Canadian Natural Resources slides 2.27% today

Highlights

Fiera Capital reduced its position in Canadian Natural Resources by 12% in Q4, now holding 1,293,745 shares.
The stock remains under broad selling pressure despite reduced holdings, reflecting continued investor caution and flows.
Technicals flag short-term selling exhaustion and a likely sideways range of $62.10 to $64.82, with high probability of an upward move if resistance is broken.

Portfolio reduction by Fiera Capital sustains market selling pressure

Fiera Capital Corp reduced its holdings in Canadian Natural Resources by 12.0% during the fourth quarter, as disclosed in a recent SEC filing. After this adjustment, Fiera Capital held approximately 1,293,745 shares in the company. This investment position change was reported recently, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, highlights that Canadian Natural Resources is seeing clear short-term weakness. He notes that selling pressure persists, with the price trading under key moving averages and institutions like Fiera Capital reducing exposure. The technical picture reveals mixed momentum and muted trend strength, despite isolated bullish signals. Kharitonov believes the current tug-of-war between sellers and buyers could create instability and downside risk. He concludes, "Unless the stock reclaims C$64.26 with strong volume, I remain cautious and see a real potential for further correction."

Viktoras Karapetjanc, expert at Traders Union, sees an intact bullish outlook for Canadian Natural Resources. He points to the strong longer-term structure above the C$52.86 200-day level and highlights that all major weekly indicators support further growth. The recent reduction by Fiera Capital does little to disrupt overall institutional confidence, as positive signals persist and the market offers multiple setups. Karapetjanc states, "The uptrend remains robust, and any breakout above C$64.82 would offer a compelling entry for investors seeking upside momentum."

Bullish structure faces near-term selling and mixed momentum signals

Canadian Natural Resources is currently trading below the 20-day (C$65.02) and 50-day (C$64.26) moving averages, but well above its 200-day (C$52.86) level. This setup points to sustained longer-term bullish structure with notable short- and medium-term pressure from sellers, while the nearest dynamic support comes from the Ichimoku Kijun at C$64.06 and resistance is offered around the 50-day average. Momentum signals are mixed: the MACD gives a strong buy reading, indicating underlying bullish tendencies, but the Average Directional Index (ADX) at 10.44 signals a weak and non-directional trend. The Relative Strength Index (RSI) is neutral to slightly bullish near 50. The Stochastic RSI and Commodity Channel Index (CCI) register oversold conditions across almost all intraday timeframes, suggesting short-term selling exhaustion. Bull/Bear Power (BBP) remains positive at 0.40, so buyers still have intraday control, despite overbought readings on the weekly timeframe. The Awesome Oscillator does not confirm the current downward swing. The stock is down C$1.47 or 2.27% on the day with a clear downside gap at the open (about C$0.36), now trading near the session low. Intraday volatility stands at 1.72%. There is continued pressure after the open. This contrasts with bullish momentum signals, signaling an ongoing tug-of-war between sellers in the short term and underlying positive trend on higher timeframes.

Earlier, analysts noted that Canadian Natural Resources faced persistent downside risks amid institutional selling and weak short-term momentum, warranting a cautious stance. The latest mixed momentum signals and heightened intraday volatility suggest traders should watch for a breakout above C$64.82 or a breakdown below C$62.10 as catalysts for the stock's next directional move.

Source of Data: CNQ Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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