The Greedy Trader Weekly Analysis
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Monthly Pattern:Rising Wedge
Number of records: 7
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Chart Analysis and Chart Pattern Recognition – Rising Wedge Pattern.
A rising wage pattern is a triangle formation with noticeable slant to the upside. It represents the loss of the upside momentum on each successive high and has a bearish bias. Rising wedges pattern usually marks a reversal in an uptrend. In a downtrend, the rising wedge is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Rising Wedge Screening page presents a list of stocks forming Rising Wedge Pattern.
Tips:
# 1
The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, this chart pattern should be considered together with other technical analysis signals and technical trading techniques.
Rising Wedge Pattern,Rising Wedge,Rising Wedge Chart Pattern,Stock Charting, chart pattern, charts, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
ConocoPhillips
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Summary:
Weekly :Overbought sectorOverbought industryRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtDaily  MACD line has moved below its signal line
Move cursor over the icon to see details.

It was a third consecutive positive week for the ConocoPhillips (COP). During the week, the COP climbed 0.11 points, or 0.16%, and closed at 69.55 on Friday, May 18, 2018. Weekly volume was -11% below average.

COP is a member of Basic Materials Sector. Basic Materials is the most overbought sector. COP is a member of Major Integrated Oil/Gas Industry. Major Integrated Oil/Gas is the seventh most overbought industry. 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 February 9, 2018 at 50.18 and reached 71.00 on May 17, 2018. COP gained -20.82 points, or -41.49%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 68.43 and resistance is at 73.36. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See COP medium-term trend chart]
A medium-term uptrend had started on March 2, 2018 at 52.78 and reached 71.00 on May 17, 2018. COP gained -18.22 points, or -34.52%, in 10 weeks. The price is now at the 7.96% retracement level.

Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since April 6, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its 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 April 25, 2018 at 63.92 and reached 71.00 on May 17, 2018. COP gained -7.08 points, or -11.08%, in 22 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See COP daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.

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

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.18
Williams' Percentage Range (W%R) 7.10
Strong Overbought
Lane's Stochastic (%D-Slow) 86.97
Overbought
Greed/Fear Indicator (GFI) 85.70
Overbought
Moving Average Converg./Diverg. (MACD) 2.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.36
Overbought
Williams' Percentage Range (W%R) 2.40
Strong Overbought
Lane's Stochastic (%D-Slow) 92.33
Strong Overbought
Greed/Fear Indicator (GFI) 85.40
Overbought
Moving Average Converg./Diverg. (MACD) 3.13
Trading Signals
Description Value Chart
Monthly Trendline Resistance 73.36
Upper Bollinger Band 71.36
Daily Stochastic Crossing 70.66
Weekly Stochastic Crossing 69.81
Price 69.55
Monthly Trendline Support 68.43
20 Day Moving Average 67.45
Parabolic System 67.42
Lower Bollinger Band 63.58
50 Day Moving Average 62.68
Sector and Industry
Description Name Rank
Sector Basic Materials 10
Industry Major Integrated Oil/Gas 157
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 63.92
Low Date 04/25/2018
High 71.00
High Date 05/17/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.78
Low Date 03/02/2018
High 71.00
High Date 05/17/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 73.36
Support 68.43
Low 50.18
Low Date 02/09/2018
High 71.00
High Date 05/17/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.27
Low Date 08/21/2017
High 71.00
High Date 05/17/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.05
Low Date 02/11/2016
High 71.00
High Date 05/17/2018
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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