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Downtrend Broken Resist.Archive
- 7/24/2026 -
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ConocoPhillips (COP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third positive week after 4 consecutive negative weeks for the ConocoPhillips (COP). During the week, the COP gained 5.55 points, or 4.84%, and closed at 120.26 on Friday, July 24, 2026. Weekly volume was -28% below average.
 Long-term trend: [See COP long-term trend chart]
A long-term downtrend had started on November 4, 2022 at 138.49 and reached 79.88 on April 9, 2025. COP lost 58.61 points, or 42.32%, in 126 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 72.62 and resistance is at 129.92. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See COP medium-term trend chart]
A medium-term downtrend had started on March 30, 2026 at 135.87 and reached 102.69 on July 1, 2026. COP lost 33.18 points, or 24.42%, in 13 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (99.70) 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. COP 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 COP weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 May 8, 2026. 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 uptrend had started on July 1, 2026 at 102.69 and reached 122.38 on July 23, 2026. COP gained -19.69 points, or -19.17%, in 22 days. The price is now at the 10.77% retracement level.
 Daily Technical Indicators: [See COP daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since July 7, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
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