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Archive
7/5/2019
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Archive
- 7/5/2019 -
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Concho Resources (CXO)

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Summary:
Weekly :Oversold sectorOversold industryLane's Stochastic oversoldWilliams' Percentage Range is strongly oversold
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldThe 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 -2.25 points, or -2.18%, and closed at 100.93 on Friday, July 5, 2019. Weekly volume was -29% below average.

CXO is a member of Basic Materials Sector. Basic Materials is the most oversold sector. CXO is a member of Oil & Gas Drilling/Explor Industry. Oil & Gas Drilling/Explor is the fifth most oversold 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 CXO long-term trend chart]
A long-term downtrend had started on May 2, 2018 at 163.11 and reached 93.31 on December 26, 2018. CXO lost 69.80 points, or 42.79%, in 34 weeks. The price is now at the 10.92% retracement level.

Medium-term trend: [See CXO medium-term trend chart]
A medium-term downtrend had started on April 24, 2019 at 124.53 and reached 95.88 on May 31, 2019. CXO lost 28.65 points, or 23.01%, in 5 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 86.30 and resistance is at 103.30. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See CXO weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since May 31, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 June 24, 2019 at 107.69 and reached 98.51 on July 2, 2019. CXO lost 9.18 points, or 8.52%, in 8 days. The price is now at the 26.36% retracement level.

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

The daily MACD line is above its signal line since July 3, 2019. The distance between MACD and the signal line is low and getting smaller.

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) 54.69
Williams' Percentage Range (W%R) 87.10
Oversold
Lane's Stochastic (%D-Slow) 19.28
Oversold
Greed/Fear Indicator (GFI) 28.95
Moving Average Converg./Diverg. (MACD) -1.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.86
Williams' Percentage Range (W%R) 90.20
Strong Oversold
Lane's Stochastic (%D-Slow) 19.66
Oversold
Greed/Fear Indicator (GFI) 25.55
Moving Average Converg./Diverg. (MACD) -5.63
Trading Signals
Description Value Chart
Upper Bollinger Band 106.75
50 Day Moving Average 105.50
Parabolic System 105.36
Monthly Trendline Resistance 103.30
20 Day Moving Average 101.64
Price 100.93
Weekly Stochastic Crossing 100.40
Daily Stochastic Crossing 99.76
Lower Bollinger Band 97.51
Monthly Trendline Support 86.30
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Oil & Gas Drilling/Explor 5
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 107.69
High Date 06/24/2019
Low 98.51
Low Date 07/02/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 95.88
Low Date 05/31/2019
High 107.69
High Date 06/24/2019
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 103.30
Support 86.30
High 124.53
High Date 04/24/2019
Low 95.88
Low Date 05/31/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 160.81
High Date 10/09/2018
Low 93.31
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 163.11
High Date 05/02/2018
Low 93.31
Low Date 12/26/2018
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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