ConocoPhillips Stock Forecast

Stronger technical forecast for ConocoPhillips stock price after Friday trading.
(Updated on May 10, 2024)

YCP.DE Signals & Forecast

There are few to no technical positive signals at the moment. The ConocoPhillips stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 115.78€ and 119.19€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -8.84%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for ConocoPhillips stock

On the downside, the stock finds support just below today's level from accumulated volume at 104.56€ and 103.12€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ConocoPhillips finds support just below today's level at 104.56€. If this is broken, then the next support from accumulated volume will be at 103.12€ and 102.88€.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 0.240€ between high and low, or 0.211%. For the last week the stock has had daily average volatility of 0.85%.

ConocoPhillips is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: 108.46€ (-4.86%) (This stock has low daily movements and this gives low risk. Low RSI14 is 16 which reduces the risk some. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (YCP.DE) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect ConocoPhillips to open at 113.92€, and during the day (based on 14 day Average True Range), to move between 112.37€ and 115.63€, which gives a possible trading interval of +/-1.63€ (+/-1.43%) up or down from last closing price. If ConocoPhillips takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 120.32€ (5.54%) than the support at 104.56€ (8.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is ConocoPhillips stock A Buy?

ConocoPhillips holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.659 Hold/Accumulate Upgraded

Predicted Opening Price for ConocoPhillips of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.