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Downtrend Broken Resist.Archive
- 8/7/2026 -
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ConocoPhillips (COP) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the ConocoPhillips (COP). During the week, the COP dropped -2.87 points, or -2.38%, and closed at 117.61 on Friday, August 7, 2026. It was the worst weekly loss since June 18, 2026. COP was trading at average weekly trading volume.
 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 72.39 and resistance is at 129.82. 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 downtrend had started on March 30, 2026 at 135.87 and reached 102.69 on July 1, 2026. COP lost 33.18 points, or 24.42%, in 13 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (97.84) is broken. A broken support is considered to be a long-term bullish signal. 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 medium-term trend.
 Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 8, 2026. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See COP short-term trend chart]
A short-term downtrend had started on July 23, 2026 at 122.38 and reached 113.21 on July 28, 2026. COP lost 9.17 points, or 7.49%, in 5 days. The chart has formed a Symmetric Triangle chart pattern.
Daily Technical Indicators: [See COP daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish 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.
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