The Greedy Trader Weekly Analysis
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Archive
- 10/5/2018
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Concho Resources
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Summary:
Weekly :Williams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtMACD bearish divergence
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It was a fourth consecutive positive week for the Concho Resources (CXO). During the week, the CXO gained 5.48 points, or 3.59%, and closed at 158.23 on Friday, October 05, 2018. CXO was trading at average weekly trading volume.

Long-term trend: [See CXO long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 69.94 and reached 163.11 on May 2, 2018. CXO gained -93.17 points, or -133.21%, in 119 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 131.92 and resistance is at 167.98. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See CXO medium-term trend chart]
A medium-term downtrend had started on May 2, 2018 at 163.11 and reached 123.63 on June 5, 2018. CXO lost 39.48 points, or 24.20%, in 4 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (132.81) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CXO may retest the broken resistance line. It is considered to be a support line now. 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 CXO weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since September 14, 2018. Use the following link to access a MACD help.

Short-term trend: [See CXO short-term trend chart]
A short-term uptrend had started on September 7, 2018 at 129.77 and reached 158.33 on October 5, 2018. CXO gained -28.56 points, or -22.01%, in 28 days. Price is near the trend high.

Daily Technical Indicators: [See CXO daily technical indicators chart]
Daily 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 daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since September 11, 2018. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.20
Overbought
Williams' Percentage Range (W%R) 7.20
Strong Overbought
Lane's Stochastic (%D-Slow) 93.49
Strong Overbought
Greed/Fear Indicator (GFI) 89.84
Overbought
Moving Average Converg./Diverg. (MACD) 3.75 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.69
Williams' Percentage Range (W%R) 5.40
Strong Overbought
Lane's Stochastic (%D-Slow) 64.31
Greed/Fear Indicator (GFI) 71.61
Moving Average Converg./Diverg. (MACD) -0.99
Trading Signals
Description Value Chart
Yearly Trendline Resistance 167.98
Upper Bollinger Band 162.39
Price 158.23
Daily Stochastic Crossing 157.76
Parabolic System 153.80
Weekly Stochastic Crossing 150.69
20 Day Moving Average 146.98
50 Day Moving Average 141.17
Quarterly Trendline Resistance 139.78
Lower Bollinger Band 134.42
Quarterly Trendline Support 132.81
Monthly Trendline Support 132.14
Yearly Trendline Support 131.92
Monthly Trendline Resistance 128.12
Sector and Industry
Description Name Rank
Sector Basic Materials 4
Industry Oil & Gas Drilling/Explor 119
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 129.77
Low Date 09/07/2018
High 158.33
High Date 10/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 128.97
Low Date 08/15/2018
High 158.33
High Date 10/05/2018
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 128.12
Support 132.14
Low 123.63
Low Date 06/05/2018
High 158.33
High Date 10/05/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 139.78
Support 132.81
High 163.11
High Date 05/02/2018
Low 123.63
Low Date 06/05/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 167.98
Support 131.92
Low 69.94
Low Date 01/20/2016
High 163.11
High Date 05/02/2018
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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