The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/3/2024 -
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ConocoPhillips (COP) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtTrend support at 115.60
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldLane's Stochastic bullish divergencePrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the ConocoPhillips (COP). During the week, the COP dropped -8.01 points, or -6.15%, and closed at 122.23 on Friday, May 3, 2024. 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 uptrend had started on March 18, 2020 at 20.84 and reached 138.49 on November 4, 2022. COP gained -117.65 points, or -564.54%, in 137 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (115.60) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See COP medium-term trend chart]
A medium-term uptrend had started on March 16, 2023 at 91.53 and reached 135.18 on April 12, 2024. COP gained -43.65 points, or -47.69%, in 56 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 110.67 and resistance is at 145.35. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic help.

The weekly MACD line is above its signal line since March 15, 2024. 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 downtrend had started on April 26, 2024 at 130.77 and reached 120.88 on May 3, 2024. COP lost 9.89 points, or 7.56%, in 7 days. The price is now at the 13.65% retracement level.

Daily Technical Indicators: [See COP daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 21.56
Williams' Percentage Range (W%R) 88.60
Oversold
Lane's Stochastic (%D-Slow) 24.37
Bullish
Greed/Fear Indicator (GFI) 19.11
Oversold
Moving Average Converg./Diverg. (MACD) 1.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.15
Williams' Percentage Range (W%R) 43.10
Lane's Stochastic (%D-Slow) 80.86
Overbought
Greed/Fear Indicator (GFI) 65.19
Moving Average Converg./Diverg. (MACD) 2.32
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 145.35
Monthly Trendline Resistance 141.96
Upper Bollinger Band 133.31
Weekly Stochastic Crossing 129.69
Parabolic System 129.33
20 Day Moving Average 129.02
50 Day Moving Average 123.53
Price 122.23
Daily Stochastic Crossing 121.78
Lower Bollinger Band 120.96
Monthly Trendline Support 118.39
Yearly Trendline Support 115.60
Quarterly Trendline Support 110.67
Sector and Industry
Description Name Rank
Sector Energy 11
Industry Oil & Gas Exploration & Production 101
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 130.77
High Date 04/26/2024
Low 120.88
Low Date 05/03/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 135.18
High Date 04/12/2024
Low 120.88
Low Date 05/03/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 141.96
Support 118.39
Low 105.77
Low Date 01/18/2024
High 135.18
High Date 04/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 145.35
Support 110.67
Low 91.53
Low Date 03/16/2023
High 135.18
High Date 04/12/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 192.76
Support 115.60
Low 20.84
Low Date 03/18/2020
High 138.49
High Date 11/04/2022
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.