COPIt has risen above the long-term narrowing triangle structure. It just needs to break onto the channel again. If it enters the channel again, I think it will move towards the target within the wave structure I specified.
COPH trade ideas
COP Getting in Trubles? I don't think it looks great even tho:
Analyst Ratings and Price Target
ConocoPhillips has received a consensus rating of "Moderate Buy" from analysts, according to MarketBeat, indicating positive sentiment towards the stock. The consensus price target stands at $133.68, suggesting a potential upside of approximately 20.84%. This reflects the confidence analysts have in the company's ability to continue delivering value to its shareholders.
Investment Highlights
Industry Leadership: ConocoPhillips is recognized as a major player in the oil and gas industry, with a substantial market cap that underscores its scale and operational capacity. The company's extensive operations across 13 countries highlight its global footprint and diversified production base.
Operational Efficiency: The company's focus on streamlining operations and maximizing cash returns to shareholders is a strong point in its favor. ConocoPhillips' strategic investments and operational discipline have positioned it well to navigate the volatile energy market.
Capital Returns: ConocoPhillips has a robust program for returning capital to shareholders, highlighted by significant share repurchases and a competitive dividend payout. This commitment to shareholder returns is a key attraction for investors.
Potential Concerns
Market Volatility: As with all companies in the energy sector, ConocoPhillips is subject to fluctuations in oil and gas prices, which can impact profitability and operational plans. Investors should be mindful of the inherent volatility in commodity markets.
Geopolitical Risks: With operations in multiple countries, ConocoPhillips faces geopolitical risks that could affect its international operations. Changes in regulatory environments, political instability, or disruptions in global supply chains could pose challenges.
Outlook for 2024
ConocoPhillips is expected to continue leveraging its industry leadership and operational efficiency to navigate the evolving energy landscape. The company's focus on sustainable operations, strategic investments in key areas, and commitment to capital returns position it well for growth in 2024. However, investors should consider the potential risks associated with the energy sector, including market volatility and geopolitical uncertainties.
In summary, ConocoPhillips (COP) appears to be well-positioned for continued success in the coming year, backed by strong analyst ratings and a strategic approach to growth and shareholder returns. The company's robust operational foundation and forward-looking strategies make it a noteworthy option for investors interested in the energy sector.
Seeking some movement downA quick trade seeking downward movement.
I think there is a lack of momentum upwards, and it has sat around for 3 sessions, so there is a bit more edge towards downward movement.
COP - break out and measured rangeNYSE:COP loves breaking out of descending secondary trends and filling proportional ranges. If history repeats, this sets us up for a move to 124-129. Note that we've hit the volume weighted average price anchored to the prior high. This might act as resistance and trigger a retest of the breakout. This happens ~70% of the time with breakouts from descending triangles.
Note that changes in trend have aligned to Fibonacci time zones. The next one is 12/18/23.
COP Going Down An Oily SlopeStrong resistance at 127.
Large A-B-C Corrective Wave under progress.
A wave was Zig-Zag. B wave was a triangle formation.
C wave has started. The sharp uptrend is retest of the resistance at 127.
COP will go down to at least 80, which is the 100 percent projection of Wave A.
$COP: Impressive 125 moveConocoPhillips is seeing impressive resilience here around 125 and we'll see if it can continue or if we see a pullback. Energy seeing a bounce off geopolitical tensions so we'll see if we get followthrough on a move up to 130 or more. Good luck traders!
The start of a crash for COPThis is one of the biggest signs of a market crash for the stock COP. There is significant divergence on every timeframe, including a daily head and shoulders. this trade has multiple patterns the main one being on a Daily timeframe. Expecting this stock to drop to $112 with a decently tight stop loss, We have already taken this trade at $124.
COP - target reachedOil prices are climbing, benefiting the energy and energy exploration sectors. I published the breakout of this opportunity with NYSE:COP in mid July. It's price history has respected these measured movements and the initial target was reached today. It's possible that we extend to $133, and potentially even set new highs in the upper section of the channel in the $140's. Note that $144 would be the 1.618 extension from the January - March retrace.
That being said, I took profit now and will manage the remaining position by actively edging up a stop loss. While oil supply is tight, it's an OPEC decision and can reverse without much notice. Additionally, we can see that oil just hit its VWAP from the 2022 high, which is likely to initially act as resistance.
COP - excellent breakoutFollowing a five-month decline from its all-time high in November 2022, ConocoPhillips ( NYSE:COP ) has spent the subsequent five months consolidating within an area of value in its long-term upward channel, establishing strong volume support.
Historically, we've observed COP forming triangles and making measured movements on breakouts within this channel. If the breakout we're witnessing this week aligns with past price action, we could anticipate a new range extending as high as $124. It's worth noting that the analyst consensus 12-month price target stands at $130.
In a previous post, I mentioned that the gold/oil ratio relative to energy was signaling a bottom, which further confirms this opportunity with COP.
I'm already long on COP. My strategy involves additional accumulation between $108-110, profit-taking between $123-125, and setting a stop loss between $97-98. As always, it's crucial to monitor market trends and adjust strategies accordingly.
Can ConocoPhillips Break Out?ConocoPhillips has traded in a flat range since the end of winter, but now the oil and gas driller could be attempting a breakout.
The first pattern on today’s chart is the $110 level. It was the high for both May and June. COP’s rally this month pushed it through that price. This week, it held the level. Has old resistance become new support?
Next are the series of higher monthly lows since March. Those may indicate that longer-term buyers are lurking beneath the surface.
Third, some shorter-term signals are potentially bullish: MACD is rising and the 8-day exponential moving average (EMA) is above the 21-day EMA.
Finally, the most recent high around $112 is near the April high and the 200-day simple moving average. Some traders may view a close above those levels as confirmation of a breakout.
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COP- A big movement ahead?-Breakout accumulation range for a times with long candle .
-Breakout important key level as a hard resistence.
Waiting a correction and that is yr chance to catch this share.
Be patient and see!
COP- Divergences suggest bearish reversal.COP has had a brief trend up in the past three and a half trading days of about 8%. An analysis
of the 30 minute chart suggests this could reverse. Firstly, the HA candles are now narrow-
ranged and more or less Dojis. The MTF RSI indicator of Chris Moody shows dropping RSI
on the 5 minute TF while it is hold up at 100 on the 60 minute TF. The former is indicative
of bearish divergence. In a similar fashion the zero lag MACD shows an early cross-over of
the K and D lines over the positive histogram another bearish divergence and sign of impending
reversal of momentum. Based on all of this I will take two put option on COP striking $110
one expiring 7/14 and the other 7/21 targeting stock prices of $105 then $102. I am projecting
profits of 25% on the shorter trade and 75% on the longer trade. I will find the entry on the 5
minute chart looking for a pivot high coupled with a transitioning EMA200 from a positive slope
to zero or negative. Other traders may simply short COP and hold to the lower target.
$COP with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:COP after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 20%.
O&G on the up todayThere are many names in the O&G that I could consider opening long positions today. NYSE:COP is one of them, others being NYSE:CNQ NYSE:DINO , NYSE:VLO among others. Note however that many of these tickers are still in a long term down trend so it would be prudent to start off with a small position and see how the merket behaves and react accordingly. I set support and resistance based on higher timeframes and based on the NYSE:COP weekly chart, I have set temporary resistance at around $108.
$COP with a Bullish outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $COP after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 50%.
COP - Horizontal Resistance Breakout COP has formed this nice structure above a horizontal resistance, it is now finding support above this resistance which is now support
Resistance / Support analysis
Price is within a triangle / wedge like structure above this resistance
Bullish expectations
#COP idea -20%?Hello dear Traders,
Here is my idea for #COP
Price closed below yellow line (previous month low)
Price closed in 15 Minute chart below purple trigger line -> Enter Trade.
Targets marked in the chart (black lines)
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
Please, support my work with like, thank you!❤️
$COP with a Neutral outlook following its earnings #Stocks 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%.
$COP - shortCOP is in triangle position for searching end and breakout. Expect one more upside with throw over and in case of that between 126-130 to a short entry.
Bearish on ConocoPhillips. COPWe 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. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
COP daily signs of reversal near all time highCOP daily signs of reversal near all time high no clean candle entry. However so close to all time high and we go lower, it's probably the beginning of waver 3 down trend. Stop above all time high.
COP nice little hammer on dailyCOP bearish set up hammer on daily plus wave C on daily / weekly and wave A on monthly.
Target can be moved down to $70 once we see an action dynamic around point of control and MA 100 and 200.
