ConocoPhillips has climbed quickly in the previous month. The stock should not remain at such a high level according to technical indicators and historics, Will it head south with strong action around the 46 level?
When we look at technical indicators, the relative strength index (RSI) is at 65.6636. RSI tends to determine trends, momentum, overbought and...
D1 - Two daily cycles ending around same zone.
Once this zone is reached we can start looking for buys after confirmation in the form of trend line breakout.
Next potential chance on long trade.
Price created new impulse up with breaking ole peak, so now I wait until it will retrace to Fibo 61,8 % level and open buy trade.
Potential chance on nice long trade with good R/R ratio over 5:1.
Price continued move up after big impulse on Daily chart. Buy signal on H2 chart after price back to/under FIBO 61,8 %.
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
It requires...
On April 13, 2017, ConocoPhillips ( COP ) crossed below its 100 day moving average (DMA). Historically this has occurred 243 times and the stock does not always drop. It has a median loss of 3.997% and a maximum loss of 38.519% over the next 15 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at 53.0188. RSI...
I am waiting to see if $COP price action shows that buyers are continuing to outpace sellers(longterm uptrend). For me to believe this is true the price must close above the current trendline.
Been long COP for awhile. It is in an uptrend. Recent short term consolidation looks to be breaking higher today. Based on the price action I am super bullish on oil in general, especially American oil stocks given the new political situation. There are so many opportunities this is only one.....
