ConocoPhillips Stock Could Climb Above The $106 Level
| May 06, 2022 05:17AM ET
When we look at the ConocoPhillips (NYSE:COP) chart, we can see a fall from the $98 level to the $94 range, forming support at the $92.5 level. On May 4 we can see the return to the $98 range and consolidation at the same level and during yesterday’s session, it rallied, reaching as high as $106 and closing in the $102.73 where it was last found trading.
Conoco Phillips had scheduled a quarterly earnings announcement yesterday. Both EPS and Revenue exceeded expectations, beating the Q1 estimates, hence the upward movement yesterday. Today we can expect a move close to and possibly above the $106 closest overhead resistance level. If however, it doesn’t manage to hold on to the current level then a move towards and below the $98 closest support level can be expected.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.