Move cursor over the icon to see details.
|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.