COP has formed a large up channel (white lines) Price has broken out of this channel, the top channel band will now likely act as support for price This will ultimately lead to continuation upwards for price, in a more aggressive manner (shown with green bars pattern)
ConocoPhillips Short Term We look to Buy at 87.72 (stop at 84.15) Preferred trade is to buy on dips. We are trading at oversold extremes. Previous support located at 87.50. We have a 61.8% Fibonacci pullback level of 87.61 from 65.06 to 124.08. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit...
Conoco Phillips nice blue sky breakout after healthy VCP pattern, looking for $120 Magnet I'm long JUN 117 calls up 95% , might sell some calls against it but chart looks strong IMO and looking for more upside first
$COP breakout on good volume out of a nice consolidation phase - Target 127$
Post breakout shakeout makes this setup interesting. Oils stocks are leaders and we may be finding a bottom on the market for now. Even tho my personal opinion tells me this stocks already had their run, price and volume action tells me otherwise. I will be disciplined with my methodology and buy a small position as a toe in water.
One more #Oil stock that is looking setup. Did I say #Oil stocks setting up? $COP one with a shakeout.
The PEAD projected a Bullish outlook for $COP after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 25%.
Monthly candle closed so here is an update. COP having tagged the upper trendline of this long expanding pattern with an upper wicked candle has now slumped back to print a double wicked candle with bearish body through the 1.618 projection taken from the previous 3 pivots which will most likely prove to be a shakeout reversal top to collapse back down. RSI is...
COP has been in an ascending channel for the last 6 months. Its at the bottom of the channel and a symmetrical triangle has formed. Breakout this week. To 115.
On a tip from my friend @dRends35 I looked at this very overextended chart and shorted it this morning. Not advice Take a look.
COP hit $104 this weak with RSI hitting 75 - highest monthly reading since 2005 with divergence in this expanding topping pattern. Retraced back up to 0.618 @ $100 today. Not advice.
The PEAD projected a Neutral outlook for $COP after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 100%.
Entry: at the market opening Stop loss: closing below 95 Reward/Risk: 2 Target range: 120 Time Frame: 4-6 wks Possible gain: 20%% Possible loss: 5-10%% Position size: 5 % of trading capital You can see the most important support(green line) and resistance (red line) levels. Best, Dr. Moshkelgosha M.D DISCLAIMER I’m not a certified financial...
Shorting divergent upgoing zigzag. Fib on Wave C first as targets. Immediate targets 86, 83,79. Invalidation at 94. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing...
One of the simplest way to invest/trade Oil Companies is to study the Brent/WTI price movements because they are very correlated. Every oil price crashes, oil companies will follow as well. Commodities is very volatile and for that comes an opportunity to profit. In the last 50 years, every time the stock drops more than 50%, it follows by a rally. For this...
The PEAD projected a Bullish outlook for $COP after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 33.33%. 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.
The technical figure Triangle can be found in the US company ConocoPhillips (COP) at daily chart. ConocoPhillips is an American multinational corporation engaged in hydrocarbon exploration. The Triangle has broken through the support line on 11/11/2021, if the price holds below this level you can have a possible bearish price movement with a forecast for the next...