ConocoPhillips Stock Forecast

Evaluation of ConocoPhillips stock downgraded after the last trading session.
(Updated on May 22, 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 111.15€ and 118.20€. 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 -12.79%. 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). ConocoPhillips gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for ConocoPhillips stock

ConocoPhillips finds support from accumulated volume at 104.56€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 2.12€ between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 1.04%.

ConocoPhillips is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (YCP.DE) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect ConocoPhillips to open at 109.77€, and during the day (based on 14 day Average True Range), to move between 107.39€ and 110.73€, which gives a possible trading interval of +/-1.67€ (+/-1.53%) up or down from last closing price. If ConocoPhillips takes out the full calculated possible swing range there will be an estimated 3.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 104.56€ (4.13%) than the resistance at 120.32€ (10.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ConocoPhillips stock A Buy?

The ConocoPhillips stock holds several negative signals and despite the positive trend, we believe ConocoPhillips will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.783 Sell Candidate Downgraded

Predicted Opening Price for ConocoPhillips of Thursday, May 23, 2024

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