The Greedy Trader Weekly Analysis
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Number of records: 10
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

ConocoPhillips (COP)

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Summary:
Weekly :Oversold sectorBroken trend resistance lineBroken trend support line
Daily :Williams' Percentage Range is oversoldPrice is near the Fibonacci 38.2% retracement level
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It was a first positive week after 3 consecutive negative weeks for the ConocoPhillips (COP). During the week, the COP gained 1.43 points, or 3.54%, and closed at 41.78 on Thursday, July 2, 2020. Weekly volume was -45% below average.

COP is a member of Energy Sector. Energy 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 March 18, 2020 at 20.84 and reached 50.79 on June 8, 2020. COP gained -29.95 points, or -143.71%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (49.82) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. COP may retest the broken support line. It is considered to be a resistance line now. 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 support in a long-term trend.

Medium-term trend: [See COP medium-term trend chart]
A medium-term downtrend had started on June 8, 2020 at 50.79 and reached 39.92 on June 29, 2020. COP lost 10.87 points, or 21.40%, in 3 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (39.64) 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 medium-term trend.

Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 15, 2020. The distance between MACD and the signal line is low and getting smaller. 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 June 29, 2020 at 39.92 and reached 42.83 on July 1, 2020. COP gained -2.91 points, or -7.29%, in 2 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 Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since June 10, 2020. The distance between MACD and the signal line is low and getting smaller.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.22
Williams' Percentage Range (W%R) 82.50
Oversold
Lane's Stochastic (%D-Slow) 23.11
Greed/Fear Indicator (GFI) 27.94
Moving Average Converg./Diverg. (MACD) -0.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.58
Williams' Percentage Range (W%R) 47.90
Lane's Stochastic (%D-Slow) 66.12
Greed/Fear Indicator (GFI) 57.89
Moving Average Converg./Diverg. (MACD) -4.02
Trading Signals
Description Value Chart
Quarterly Trendline Support 49.82
Upper Bollinger Band 48.09
Weekly Stochastic Crossing 45.51
20 Day Moving Average 43.83
50 Day Moving Average 42.56
Parabolic System 42.55
Price 41.78
Daily Stochastic Crossing 41.21
Monthly Trendline Resistance 41.01
Monthly Trendline Support 39.64
Lower Bollinger Band 37.36
Sector and Industry
Description Name Rank
Sector Energy 2
Industry Oil & Gas Exploration & Production 26
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 39.92
Low Date 06/29/2020
High 42.83
High Date 07/01/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 39.92
Low Date 06/29/2020
High 42.83
High Date 07/01/2020
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 41.01
Support 39.64
High 50.79
High Date 06/08/2020
Low 39.92
Low Date 06/29/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 58.36
Support 49.82
Low 20.84
Low Date 03/18/2020
High 50.79
High Date 06/08/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 80.24
High Date 10/01/2018
Low 20.84
Low Date 03/18/2020
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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