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- 4/5/2024 -
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ConocoPhillips (COP) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth consecutive positive week for the ConocoPhillips (COP). During the week, the COP gained 6.24 points, or 4.90%, and closed at 133.52 on Friday, April 5, 2024. Weekly volume was -29% below 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 Symmetric Triangle chart pattern. The uptrend resistance line (116.37) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 January 18, 2024 at 105.77 and reached 133.84 on April 5, 2024. COP gained -28.07 points, or -26.54%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (114.00) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic and Williams' Percentage Range 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. 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 February 13, 2024 at 108.84 and reached 133.84 on April 5, 2024. COP gained -25.00 points, or -22.97%, in 52 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (114.02) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since February 20, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.
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