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Downtrend Broken Resist.Archive
- 1/3/2025 -
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ConocoPhillips (COP) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a second positive week after 4 consecutive negative weeks for the ConocoPhillips (COP). During the week, the COP gained 4.18 points, or 4.31%, and closed at 101.10 on Friday, January 3, 2025. It was the best weekly gain since October 4, 2024. Weekly volume was -12% below average.
 Long-term trend: [See COP long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 20.84 and reached 138.49 on November 4, 2022. COP gained -117.65 points, or -564.54%, in 137 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (134.00) 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 COP medium-term trend chart]
A medium-term downtrend had started on April 12, 2024 at 135.18 and reached 94.23 on December 20, 2024. COP lost 40.95 points, or 30.29%, in 36 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend support (100.45) 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 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. 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 December 6, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See COP short-term trend chart]
A short-term downtrend had started on October 7, 2024 at 116.08 and reached 94.23 on December 20, 2024. COP lost 21.85 points, or 18.82%, in 74 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 92.70 and resistance is at 114.82. A Broadening Descending 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.
 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 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 moved above 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.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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