Canadian Natural Resources Limited (CNQ) Stock Price & Analysis
Market: NYSE • Sector: Energy • Industry: Oil & Gas Exploration & Production
Canadian Natural Resources Limited (CNQ) Profile & Business Summary
Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream and refining assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. As of December 31, 2020, the company had total proved crude oil, bitumen, and NGLs reserves were 10,528 million barrels (MMbbl); total proved plus probable crude oil, bitumen, and NGLs reserves were 13,271 MMbbl; proved SCO reserves were 6,998 MMbbl; total proved plus probable SCO reserves were 7,535 MMbbl; proved natural gas reserves were 12,168 billion cubic feet (Bcf); and total proved plus probable natural gas reserves were 20,249 Bcf. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.
Key Information
| Ticker | CNQ |
|---|---|
| Leadership | Norman Murray Edwards |
| Exchange | NYSE |
| Official Site | https://www.cnrl.com |
Market Trend Overview for CNQ
One model, two time views: what the market looks like right now, and where the larger trend is heading over time.
This model looks at how prices behave over time to describe the current market environment. It focuses on whether price is moving steadily, stalling, or losing momentum, and checks both short-term and weekly trends for confirmation. The goal is not to predict exact prices, but to help understand when conditions are supportive, risky, or unclear.
Current Market Context (Short-Term)
As of 2026-02-06 (ET), CNQ is moving sideways. Price at 39.10 is above support near 35.80. If price moves higher, it may meet resistance around 40.68. View Support & Resistance from Options
Why the market looks this way?
Prices have moved back and forth over recent sessions without making steady progress. Trend signals have changed frequently, which suggests the market is stuck in a range. In this environment, chasing moves in either direction is less reliable.
Longer-Term Market Trend (Mid to Long Term)
Shows the bigger market trend, how strong it is, and where risks may start to build over the next few weeks or months. — Updated as of 2026-02-06 (ET)
As of 2026-02-06, CNQ is starting to move higher. Over the longer term, the trend remains bullish.
CNQ last closed at 39.10. The price is about 3.0 ATR above its recent average price (36.92), and the market is currently in an early upward move.
The broader uptrend is still intact, but price has moved far from its recent average, increasing the risk of a pullback.
Trend score: 80 out of 100. Overall alignment is strong. The market is currently in an early-stage uptrend. Trend signals are well aligned across timeframes, suggesting a stable and consistent trend.
Price is far from its recent average (about 3.0 ATR away). Chasing the move at this level carries a higher risk of a pullback.
A key downside level is near 32.57. If price falls below this area, the current upward trend would likely weaken or break.
A systematic trend-activation signal was most recently triggered on 2026-01-22, reflecting a technical shift toward positive directional alignment.
[2026-02-06] Price moved quickly and looked strong, but participation was limited.
Recent bars show mixed price behavior without a clear shift in structural quality or efficiency.
Some late-day positioning was observed, but it lacked strong overnight commitment.
As of 2026-01-29, price has extended significantly above its primary volume area, entering a liquidity-thin zone. While the uptrend remains intact, the risk of chasing strength has increased.
Short Interest & Covering Risk for CNQ
This analysis looks at overall short interest positioning, focusing on the broader setup rather than short-term noise.
Shows how likely a short squeeze may be under current market conditions.
Short Exposure Percentile
Short interest is within its typical range, with no clear imbalance between buyers and sellers. (Historical percentile: 50%)
Structure Analysis
CNQ Short positioning looks normal. Current days to cover is 1.4 trading days, meaning short positions could unwind at a normal pace. Short covering is likely to have a normal impact on price moves.
Bull Trap Structural Risk
No clear bull trap characteristics detected. Recent price behavior remains broadly consistent with current positioning.This reading helps confirm that current price action remains structurally healthy and does not indicate elevated trap risk.
Short interest remains relatively low, limiting forced selling pressure. Current price strength appears broadly supported. As a result, similar news or market events could lead to price moves about 1× larger than usual.
Note:
Short interest data is reported every two weeks by
FINRA.
The most recent snapshot is
2026-01-15 (ET).
Because this data updates slowly, it is not intended to predict short-term price moves. Instead, it helps describe longer-term market structure and where pressure may be building if prices begin to move.