Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>COP stock is gaining momentum, willing to surpass the hurdle of $116.</a> </li> 
 <li> <span>2</span> <a>Buyers are keen to retain the bullish territory near $125.</a> </li> 
</ul> 
<p>ConocoPhillips stock (NYSE: COP) rebounds from the 20-day EMA and is struggling to sustain above the 61.8% Fib level on the charts. Moreover, the price action favors the bulls and holds the gains for the past sessions above neutrality.&nbsp;</p> 
<p>Recently, COP stock has surpassed the neckline of the consolidation phase and escaped the 50% Fib level above $107. Afterward, buying momentum was witnessed on the charts, where sellers got trapped.&nbsp;</p> 
<p>Furthermore, the retracement in price resulted from the Q2 earnings disappointment, leading to retesting of the 20-day EMA. However, the sentiment was overcome now, and fresh buying momentum was noted on the charts. If the price sustains above $117 decisively, it will rally toward $125 in the following sessions.</p> 
<p>At press time, COP stock price is trading at $115.59 with an intraday gain of 0.97%, showing a reversal from the 20-day EMA in yesterday’s session. Moreover, the trading volume increased by 0.24% to 4.353 Million, and the market cap is $138.418 Billion. However, Analysts maintained a buy and outperform rating with a yearly target price of $130.37.</p> 
<h2 class="wp-block-heading" id="strong-about-conocophillips-cop-strong"><strong>About ConocoPhillips (COP):</strong></h2> 
<p>ConocoPhillips engages in the exploration, production, transportation, and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas worldwide. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International. The Alaska segment primarily explores for, produces, transports, and markets crude oil, natural gas, and natural gas liquids.&nbsp;</p> 
<p>The Lower 48 segment consists of operations in the U.S. and the Gulf of Mexico. The Canada segment consists of oil sand development in the Athabasca Region of northeastern Alberta and a liquids-rich unconventional play in western Canada.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-cop-stock-price-near-20-day-ema-on-daily-charts-strong"><strong>COP Stock Price Near 20 Day EMA On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/pN78Qtlsa7d1-Y15YDL64ZBqTNMUFgEyQi42YocgJ2Rgi82pGrunBXB6q6-dtId8tj3d7Xr8LaKw8KpqZU9c6t77Bm8L80bOu-IhpaqM9SBo3CKdyVhv32GD6WragVQtlwND4VjynH291jYUSO7_HWk" alt="COP Stock Signals Bullishness, Will it Continue to Lift Gains?"> 
  <figcaption class="wp-element-caption">
    Source: COP Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/08/05/conocophillips-cop-stock-price-downturn-post-negative-earnings/" target="_blank" rel="noopener noreferrer nofollow">COP stock price</a> has corrected from the top of $138 toward the lows of $90 in the past months. However, the buyers are now persistently accumulating and regaining the momentum to retain those gains. Moreover, the price rebounded from the lower bollinger band and escaped above the mid-band overnight.</p> 
<h2 class="wp-block-heading" id="strong-what-technical-indicators-say-strong"><strong>What Technical Indicators Say?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" width="1024" height="481" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53-1024x481.png" alt="COP Stock Signals Bullishness, Will it Continue to Lift Gains?" class="wp-image-158029" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53-1140x536.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-53.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: COP Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the 4-hour charts, COP stock price showed profit booking post Q2 earnings release, which led to disappointment resulting in the adverse price action in the past sessions.</p> 
<p>The RSI curve slid from the overbought zone and stayed near neutrality, showing a positive crossover in yesterday’s session. However, the price action still shows a positive outlook on the charts.</p> 
<p>The MACD indicator showed a bearish crossover, and the red bars on the histogram showed volatile price action on the charts.</p> 
<h4 class="wp-block-heading"><strong>Conclusion:</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/05/conocophillips-cop-stock-price-downturn-post-negative-earnings/" target="_blank" rel="noopener noreferrer nofollow">ConocoPhillips (COP stock)</a> was trading above neutrality and rebounded from the 20-day EMA, showing a willingness to retest the swing of $125 in the following sessions. The trajectory shows that the price is near 61.8%, which, if surpassed, leads to momentum gain, and buyers will forward the gains.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $110 and $100</p> 
<p>Resistance Levels: $125 and $135</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

COP Stock Signals Bullishness, Will it Continue to Lift Gains?

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