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|It was the negative week for the ConocoPhillips (COP). During the week, the COP gave back -0.75 points, or -0.73%, and closed at 101.85 on Friday, May 26, 2023. Weekly volume was -22% below average. |
COP is a member of Energy Sector. Energy 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 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 Broadening Ascending Wedge chart pattern. The price is near the trend support (99.29) 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 long-term trend.
Medium-term trend: [See COP medium-term trend chart]
A medium-term downtrend had started on November 4, 2022 at 138.49 and reached 91.53 on March 16, 2023. COP lost 46.96 points, or 33.91%, in 18 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (100.49). 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 technical indicators are neutral.
The weekly MACD line is below its signal line since December 2, 2022. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 May 3, 2023 at 95.70 and reached 105.68 on May 24, 2023. COP gained -9.98 points, or -10.43%, in 21 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 99.39 and resistance is at 105.96. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.
Daily Technical Indicators: [See COP daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 16, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 8.33% on Friday. It is 55.31% lower than one year average. It indicates the period of low volatility of the stock price. 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.
Price is close to the 50 Day Moving Average. 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.