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|It was a third consecutive positive week for the ConocoPhillips (COP). During the week, the COP climbed 0.11 points, or 0.16%, and closed at 69.55 on Friday, May 18, 2018. Weekly volume was -11% below average. |
COP is a member of Basic Materials Sector. Basic Materials is the most overbought sector. COP is a member of Major Integrated Oil/Gas Industry. Major Integrated Oil/Gas is the seventh most overbought industry. 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 9, 2018 at 50.18 and reached 71.00 on May 17, 2018. COP gained -20.82 points, or -41.49%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 68.43 and resistance is at 73.36. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
Medium-term trend: [See COP medium-term trend chart]
A medium-term uptrend had started on March 2, 2018 at 52.78 and reached 71.00 on May 17, 2018. COP gained -18.22 points, or -34.52%, in 10 weeks. The price is now at the 7.96% retracement level.
Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 links to access Lane's Stochastic, Relative Strength Index and 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 near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 25, 2018 at 63.92 and reached 71.00 on May 17, 2018. COP gained -7.08 points, or -11.08%, in 22 days. The chart has formed a Broadening Ascending Wedge chart pattern.
Daily Technical Indicators: [See COP daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.