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Downtrend Broken Resist.Archive
- 1/16/2026 -
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ConocoPhillips (COP) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the ConocoPhillips (COP). During the week, the COP climbed 0.68 points, or 0.70%, and closed at 98.19 on Friday, January 16, 2026. Weekly volume was 26% 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 November 4, 2022 at 138.49 and reached 79.88 on April 9, 2025. COP lost 58.61 points, or 42.32%, in 126 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 75.52 and resistance is at 131.10. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See COP medium-term trend chart]
A medium-term uptrend had started on November 6, 2025 at 85.57 and reached 102.98 on January 5, 2026. COP gained -17.41 points, or -20.35%, in 8 weeks. The price is now at the 27.51% retracement level.
 Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 5, 2025. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 26, 2025 at 90.75 and reached 102.98 on January 5, 2026. COP gained -12.23 points, or -13.48%, in 10 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (96.47) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.
Daily Technical Indicators: [See COP daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since December 31, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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