The Greedy Trader Weekly Analysis
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- 5/15/2020 -
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Concho Resources (CXO)

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Summary:
Weekly :Weekly  MACD line has moved above its signal lineTrend support at 55.06
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARLane's Stochastic is oversoldPrice is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Concho Resources (CXO). During the week, the CXO dropped -4.38 points, or -7.47%, and closed at 54.26 on Friday, May 15, 2020. It was the worst weekly loss since March 20, 2020. Weekly volume was -45% below average.

Long-term trend: [See CXO long-term trend chart]
A long-term downtrend had started on May 2, 2018 at 163.11 and reached 33.13 on March 18, 2020. CXO lost 129.98 points, or 79.69%, in 98 weeks. The price is now at the 16.26% retracement level.

Medium-term trend: [See CXO medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 33.13 and reached 63.19 on May 5, 2020. CXO gained -30.06 points, or -90.73%, in 6 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (55.06) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.

Weekly Technical Indicators: [See CXO weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See CXO short-term trend chart]
A short-term downtrend had started on May 5, 2020 at 63.19 and reached 51.66 on May 14, 2020. CXO lost 11.53 points, or 18.25%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See CXO daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. 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.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.14
Williams' Percentage Range (W%R) 54.50
Lane's Stochastic (%D-Slow) 17.87
Oversold
Greed/Fear Indicator (GFI) 38.18
Moving Average Converg./Diverg. (MACD) 1.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.04
Williams' Percentage Range (W%R) 64.20
Lane's Stochastic (%D-Slow) 54.97
Greed/Fear Indicator (GFI) 43.87
Moving Average Converg./Diverg. (MACD) -7.69
Trading Signals
Description Value Chart
Parabolic System 60.69
Upper Bollinger Band 59.78
20 Day Moving Average 55.28
Monthly Trendline Support 55.06
Price 54.26
Daily Stochastic Crossing 53.23
Weekly Stochastic Crossing 52.74
Lower Bollinger Band 49.64
50 Day Moving Average 49.49
Sector and Industry
Description Name Rank
Sector Energy 4
Industry Oil & Gas Exploration & Production 37
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 59.09
High Date 05/08/2020
Low 51.66
Low Date 05/14/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.19
High Date 05/05/2020
Low 51.66
Low Date 05/14/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 68.14
Support 55.06
Low 33.13
Low Date 03/18/2020
High 63.19
High Date 05/05/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 93.34
High Date 01/07/2020
Low 33.13
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 163.11
High Date 05/02/2018
Low 33.13
Low Date 03/18/2020
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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