This morning, leading energy stock ConocoPhillips
(NYSE:COP) is coming under some selling pressure. COP stock is trading lower by 0.71 cents to $73.64 a share. The stock is pulling back from a new 52-week that was made just yesterday. Traders should watch for intra-day support levels around the $73.27, and $72.95 levels. Both support areas could give COP stock an intra-day bounce. Traders must make sure that they watch the pattern that is formed over the next few hours, any consolidation just above a support level
could negate the strength of the support area
. Once again, these are day trading levels only.