Move cursor over the icon to see details.
|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.