pool adsConocophillips $COP Trading Report
The Conocophillips (NYSE: COP) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for COP, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Neutral | Weak |
| P1 | 0 | 0 | 49.76 |
| P2 | 54.66 | 54.46 | 54.41 |
| P3 | 57.22 | 57.70 | 58.72 |
Support and Resistance Plot Chart for COP
Long Term Trading Plans for COP
November 4, 2019, 5:45 pm ET
The Technical Summary and Trading Plans for COP help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this COP Report.
COP - (Long) Support Plan
The technical summary data tells us to buy COP near 54.41 with an upside target of 58.72. This data also tells us to set a stop loss @ 54.15 to protect against excessive loss in case the stock begins to move against the trade. 54.41 is the first level of support below 58 , and by rule, any test of support is a buy signal. In this case, support 54.41 is being tested, a buy signal would exist.
COP - (Short) Resistance Plan
The technical summary data is suggesting a short of COP as it gets near 58.72 with a downside target of 54.41. We should have a stop loss in place at 58.98 though. 58.72 is the first level of resistance above 58, and by rule, any test of resistance is a short signal. In this case, if resistance 58.72 is being tested, a short signal would exist.
