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|It was the negative week for the ConocoPhillips (COP). During the week, the COP gave back -0.17 points, or -0.33%, and closed at 51.57 on Friday, December 08, 2017. Weekly volume was -29% below average. |
Long-term trend: [See COP long-term trend chart]
A long-term downtrend had started on July 24, 2014 at 87.09 and reached 31.05 on February 11, 2016. COP lost 56.04 points, or 64.35%, in 81 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (44.52) 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 long-term trend.
Medium-term trend: [See COP medium-term trend chart]
A medium-term uptrend had started on August 21, 2017 at 42.27 and reached 54.22 on November 8, 2017. COP gained -11.95 points, or -28.27%, in 11 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since September 8, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 November 28, 2017 at 48.97 and reached 52.47 on December 1, 2017. COP gained -3.50 points, or -7.15%, in 3 days. Price is near the Fibonacci 23.6% retracement level.
Daily Technical Indicators: [See COP daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.