The Greedy Trader Weekly Analysis
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Number of records: 8
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ConocoPhillips
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Summary:
Weekly :Oversold sectorBroken trend resistance lineLane's Stochastic is oversoldStochastic has raised above the signal line
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement level
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It was a first positive week after 7 consecutive negative weeks for the ConocoPhillips (COP). During the week, the COP gained 2.38 points, or 3.73%, and closed at 66.18 on Friday, November 30, 2018. It was the best weekly gain since September 21, 2018. Weekly volume was -8% below 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 August 21, 2017 at 42.27 and reached 80.24 on October 1, 2018. COP gained -37.97 points, or -89.83%, in 58 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 63.74 and resistance is at 84.94. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern 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 62.41 on November 23, 2018. COP lost 17.83 points, or 22.22%, in 7 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (61.47) 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 Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 link to access Lane's Stochastic 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, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 23, 2018 at 62.41 and reached 67.51 on November 29, 2018. COP gained -5.10 points, or -8.17%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.18
Williams' Percentage Range (W%R) 59.10
Lane's Stochastic (%D-Slow) 74.40
Greed/Fear Indicator (GFI) 54.50
Moving Average Converg./Diverg. (MACD) -1.63
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.98
Williams' Percentage Range (W%R) 79.70
Lane's Stochastic (%D-Slow) 18.63
Oversold
Greed/Fear Indicator (GFI) 28.47
Moving Average Converg./Diverg. (MACD) 2.07
Trading Signals
Description Value Chart
50 Day Moving Average 70.89
Upper Bollinger Band 70.24
Daily Stochastic Crossing 66.48
Price 66.18
20 Day Moving Average 66.17
Weekly Stochastic Crossing 65.36
Parabolic System 64.90
Quarterly Trendline Support 63.74
Monthly Trendline Resistance 63.67
Lower Bollinger Band 63.06
Monthly Trendline Support 61.47
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Major Integrated Oil/Gas 60
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 62.41
Low Date 11/23/2018
High 67.51
High Date 11/29/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 62.41
Low Date 11/23/2018
High 67.51
High Date 11/29/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 63.67
Support 61.47
High 80.24
High Date 10/01/2018
Low 62.41
Low Date 11/23/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 84.94
Support 63.74
Low 42.27
Low Date 08/21/2017
High 80.24
High Date 10/01/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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