The Greedy Trader Weekly Analysis
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Number of records: 6
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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
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Summary:
Weekly :Oversold sectorBroken trend resistance lineWilliams' Percentage Range is oversoldTrend resistance at 65.59
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldMACD bullish divergenceBullish Meeting Lines Candlestick
Move cursor over the icon to see details.

It was the negative week for the ConocoPhillips (COP). During the week, the COP dropped -1.11 points, or -1.64%, and closed at 66.73 on Friday, November 09, 2018. Weekly volume was 15% above average.

COP is a member of Basic Materials Sector. Basic Materials is the 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 February 11, 2016 at 31.05 and reached 80.24 on October 1, 2018. COP gained -49.19 points, or -158.42%, in 137 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (65.59). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See COP medium-term trend chart]
A medium-term downtrend had started on October 1, 2018 at 80.24 and reached 64.79 on November 9, 2018. COP lost 15.45 points, or 19.25%, in 5 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (32.42) 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 Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly 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 weekly MACD line is below its signal line since October 12, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See COP short-term trend chart]
A short-term downtrend had started on October 31, 2018 at 71.82 and reached 64.79 on November 9, 2018. COP lost 7.03 points, or 9.79%, in 9 days. The price is now at the 27.60% retracement 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. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since November 7, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Candlestick pattern: [See COP candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.95
Williams' Percentage Range (W%R) 90.00
Oversold
Lane's Stochastic (%D-Slow) 45.12
Greed/Fear Indicator (GFI) 30.69
Moving Average Converg./Diverg. (MACD) -1.56 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.28
Williams' Percentage Range (W%R) 93.90
Strong Oversold
Lane's Stochastic (%D-Slow) 33.69
Greed/Fear Indicator (GFI) 29.12
Moving Average Converg./Diverg. (MACD) 3.11
Trading Signals
Description Value Chart
Upper Bollinger Band 74.63
50 Day Moving Average 73.04
Parabolic System 71.89
20 Day Moving Average 69.72
Weekly Stochastic Crossing 68.78
Daily Stochastic Crossing 67.72
Price 66.73
Yearly Trendline Resistance 65.59
Lower Bollinger Band 65.43
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Major Integrated Oil/Gas 74
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 71.26
High Date 11/07/2018
Low 64.79
Low Date 11/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 71.82
High Date 10/31/2018
Low 64.79
Low Date 11/09/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 37.67
Support 32.42
High 80.24
High Date 10/01/2018
Low 64.79
Low Date 11/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.27
Low Date 08/21/2017
High 80.24
High Date 10/01/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 65.59
Support 50.44
Low 31.05
Low Date 02/11/2016
High 80.24
High Date 10/01/2018
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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