The Greedy Trader Weekly Analysis
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Monthly Pattern:Rising Wedge
Number of records: 12
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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 :Williams' Percentage Range is strongly overboughtMACD bearish divergenceOversold sector
Daily :Daily  MACD line has moved below its signal linePrice is near the Fibonacci 38.2% retracement levelThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was the negative week for the ConocoPhillips (COP). During the week, the COP gave back -0.16 points, or -0.22%, and closed at 71.29 on Friday, August 03, 2018. Weekly volume was -25% below average.

COP is a member of Basic Materials Sector. Basic Materials is the second most oversold 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 August 21, 2017 at 42.27 and reached 72.94 on July 30, 2018. COP gained -30.67 points, or -72.56%, in 49 weeks. The price is now at the 5.38% retracement level.

Medium-term trend: [See COP medium-term trend chart]
A medium-term uptrend had started on February 9, 2018 at 50.18 and reached 72.94 on July 30, 2018. COP gained -22.76 points, or -45.36%, in 24 weeks. The price is now at the 7.25% retracement level.

Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 link to access 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 low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 July 18, 2018 at 68.81 and reached 72.94 on July 30, 2018. COP gained -4.13 points, or -6.00%, in 12 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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.

The distance between the Bollinger Bands is falling, and it was 4.43% on Friday. It is 58.99% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.64
Williams' Percentage Range (W%R) 40.90
Lane's Stochastic (%D-Slow) 63.45
Greed/Fear Indicator (GFI) 59.72
Moving Average Converg./Diverg. (MACD) 0.76
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.77
Williams' Percentage Range (W%R) 8.60
Strong Overbought
Lane's Stochastic (%D-Slow) 79.25
Greed/Fear Indicator (GFI) 74.36
Moving Average Converg./Diverg. (MACD) 3.97 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 72.41
Daily Stochastic Crossing 71.92
Weekly Stochastic Crossing 71.50
Price 71.29
20 Day Moving Average 71.09
Parabolic System 70.54
Lower Bollinger Band 69.25
50 Day Moving Average 69.21
Sector and Industry
Description Name Rank
Sector Basic Materials 2
Industry Major Integrated Oil/Gas 108
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 68.81
Low Date 07/18/2018
High 72.94
High Date 07/30/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.79
Low Date 06/21/2018
High 72.94
High Date 07/30/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.18
Low Date 02/09/2018
High 72.94
High Date 07/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.27
Low Date 08/21/2017
High 72.94
High Date 07/30/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.05
Low Date 02/11/2016
High 72.94
High Date 07/30/2018
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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