The Greedy Trader Weekly Analysis
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Archive
- 1/11/2019
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Concho Resources
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Summary:
Weekly :Broken trend support lineOversold sectorLane's Stochastic is oversoldPrice is near the Fibonacci 38.2% retracement level
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtThe price has risen above the Parabolic SAR
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It was a third positive week after 3 consecutive negative weeks for the Concho Resources (CXO). During the week, the CXO gained 8.35 points, or 7.45%, and closed at 120.45 on Friday, January 11, 2019. CXO was trading at average weekly trading volume.

CXO 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 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 uptrend support line (137.90) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See CXO medium-term trend chart]
A medium-term downtrend had started on October 9, 2018 at 160.81 and reached 93.31 on December 26, 2018. CXO lost 67.50 points, or 41.98%, in 11 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See CXO 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. 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 November 2, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively 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 CXO short-term trend chart]
A short-term uptrend had started on December 26, 2018 at 93.31 and reached 124.88 on January 9, 2019. CXO gained -31.57 points, or -33.83%, in 14 days. The price is now at the 14.03% retracement level.

Daily Technical Indicators: [See CXO daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since December 31, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

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) 74.03
Williams' Percentage Range (W%R) 13.40
Overbought
Lane's Stochastic (%D-Slow) 91.55
Strong Overbought
Greed/Fear Indicator (GFI) 84.07
Overbought
Moving Average Converg./Diverg. (MACD) -3.92
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.34
Williams' Percentage Range (W%R) 59.50
Lane's Stochastic (%D-Slow) 19.00
Oversold
Greed/Fear Indicator (GFI) 33.70
Moving Average Converg./Diverg. (MACD) -4.56
Trading Signals
Description Value Chart
Yearly Trendline Support 137.90
Upper Bollinger Band 131.14
50 Day Moving Average 123.13
Daily Stochastic Crossing 122.54
Price 120.45
Parabolic System 111.02
20 Day Moving Average 109.37
Weekly Stochastic Crossing 103.37
Lower Bollinger Band 97.91
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Oil & Gas Drilling/Explor 26
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 93.31
Low Date 12/26/2018
High 124.88
High Date 01/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 93.31
Low Date 12/26/2018
High 124.88
High Date 01/09/2019
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
Quarterly Trend
Yearly Trend
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
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 170.93
Support 137.90
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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