Conocophillips ($COP) continues to rise inside the clear daily upward impulse with started earlier with the daily Piercing Line candlestick reversal pattern back in April. The price is currently aiming at the major resistance level 61.06 (which stopped the sharp uptrend in March). Given the fact that the price has the freedom of only 0.36 ATR (Average True Range)...
The stock is holding EMA50 as its support area with the price of $51. The stock looks ready to break above the resistance level $55. Our target to reach $59 -$60. Now it's standing in a good price to open a long position. Good risk/reward ratio.
With recent USOIL strength, oil companies have been doing well. I'm expecting a breakout in the world's biggest commodity and also on this stock.
MID-TERM: Bounce off support, backtest of supply line breakout, classic bullish divergence on 4hr, hidden bullish divergence on daily. (not financial advice)
The PEAD projected a Bullish outlook for $COP after a positive under reaction following its earnings release placing the stock in drift A If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
Cop are on the move, ABCD chart is done perfectly, now it's Double Bottom turn to do the same. But first i think must be filled the GAP around 55,37 which is also indicated by Regular Bearish Divergence. NYSE:COP
Another decent risk/reward here... Long COP @ 41.70 STOP 38.77 TARGET 51 (ish)
After looking at the beat down energy sector and being a part of it I know the cyclical nature of the business. I looked back on COP as its a good baseline of the industry depending on crude price. What i have outlined are the similarites of the last three crashes along with the recovery of COP to a new cycle high. Each consecutive crash was at a lower price...
Working on breaking resistance. Could run up to the $50 dollar resistance as shown. Manage your risk here.
Hey people, CONOCOPHILLIPS is in a bullish momentum with a large buying volume traded and a shadow of losing buyers. Looking at the TIMEFRAME M1 we see a tombstone with a high volume of purchase carried out with a high probability of breaking the price due to the force of the volume. To go on the next hour and if the buyers are still in the shot, reach the top...
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COP bullish scenario: We have technical figure Triangle in US company ConocoPhillips (COP) at daily chart. ConocoPhillips is a multinational corporation engaged in hydrocarbon exploration. The company has operations in 17 countries. As of December 31, 2019, the company had proved reserves of 5,262 million barrels of oil, of which 50% was petroleum, 37% was natural...
This looks like a big time downtrend when I first looked at this chart There is a gap over price which may cause R There is also a FW. Falling wedges can be very bullish at the bottom and signal a reversal if the stock breaks up and out of it in an uptrend They differ from triangles as both trendlines slope in the same direction and converge Also an abc...
Falling Wedge TP 1 = $36.33 TP 2 = $37.61 TP 3 = $41.23 Please don't forget to FOLLOW , LIKE and COMMENT ... If you like my analysis:) Thank you and Good Luck!
Looks like a large topping pattern. At minimum looking for a retest of the lows, depending on momentum looks like it could completely collapse to $4-$6