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- 1/8/2021 -
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ConocoPhillips (COP)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a second positive week after 3 consecutive negative weeks for the ConocoPhillips (COP). During the week, the COP gained 4.71 points, or 11.78%, and closed at 44.70 on Friday, January 8, 2021. It was the best weekly gain since November 13, 2020. Weekly volume was 6% above average.

COP is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See COP long-term trend chart]
A long-term downtrend had started on October 1, 2018 at 80.24 and reached 20.84 on March 18, 2020. COP lost 59.40 points, or 74.03%, in 76 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (24.68) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. COP may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See COP medium-term trend chart]
A medium-term uptrend had started on October 29, 2020 at 27.53 and reached 45.48 on January 8, 2021. COP gained -17.95 points, or -65.20%, in 10 weeks. Price is near the trend high.

Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 13, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See COP short-term trend chart]
A short-term uptrend had started on December 29, 2020 at 38.77 and reached 45.48 on January 8, 2021. COP gained -6.71 points, or -17.31%, in 10 days. The price is now at the 11.62% retracement level.

Daily Technical Indicators: [See COP daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.86
Bearish
Williams' Percentage Range (W%R) 7.10
Strong Overbought
Lane's Stochastic (%D-Slow) 77.46
Bearish
Greed/Fear Indicator (GFI) 77.39
Moving Average Converg./Diverg. (MACD) 0.59 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.01
Williams' Percentage Range (W%R) 2.70
Strong Overbought
Lane's Stochastic (%D-Slow) 79.52
Greed/Fear Indicator (GFI) 78.21
Moving Average Converg./Diverg. (MACD) -1.11
Trading Signals
Description Value Chart
Upper Bollinger Band 45.15
Price 44.70
Daily Stochastic Crossing 44.64
Weekly Stochastic Crossing 42.88
20 Day Moving Average 41.47
Yearly Trendline Resistance 40.87
Parabolic System 39.80
50 Day Moving Average 38.80
Lower Bollinger Band 37.62
Sector and Industry
Description Name Rank
Sector Energy 12
Industry Oil & Gas Exploration & Production 88
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 38.77
Low Date 12/29/2020
High 45.48
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 38.77
Low Date 12/29/2020
High 45.48
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 38.77
Low Date 12/29/2020
High 45.48
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.53
Low Date 10/29/2020
High 45.48
High Date 01/08/2021
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 40.87
Support 24.68
High 80.24
High Date 10/01/2018
Low 20.84
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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