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S&P 500 Overbought StocksArchive
- 3/6/2026 -
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ConocoPhillips (COP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the ConocoPhillips (COP). During the week, the COP gained 3.61 points, or 3.18%, and closed at 117.07 on Friday, March 6, 2026. Weekly volume was 75% above average.
COP is a member of Energy Sector. Energy is the most overbought 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 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 74.77 and resistance is at 130.80. 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 uptrend had started on November 6, 2025 at 85.57 and reached 122.50 on March 3, 2026. COP gained -36.93 points, or -43.16%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (116.58). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly 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 weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 5, 2025. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 January 7, 2026 at 93.91 and reached 122.50 on March 3, 2026. COP gained -28.59 points, or -30.44%, in 55 days. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (117.58). The resistance is usually stronger when technical indicators are overbought. 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 resistance line 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.
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