COP trade ideas
ConocoPhilips set to blast higher. $70 targetConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East; Other International; and Corporate & Other. The Alaska segment primarily explores for, produces, transports and markets crude oil, natural gas and natural gas liquids. The Lower 48 segment is consist of operations in the U.S. Lower 48 states and the Gulf od Mexico. The Canada segment is comprised of oil sands development in the Athabasca Region of northeastern Alberta and a liquids-rich unconventional play in western Canada. The Europe and North Africa segment is consist of operations and exploration activities in Norway, the United Kingdom and Libya. The Asia Pacific and Middle East segment has explorations and product operations in China, Indonesia, Malaysia and Australia; production operations in Qatar and Timor-Leste; and exploration activities in Brunei. The Other International segment handles exploration activities in Columbia and Chile. The Corporate and Other segment is comprised of interest expense, premiums incurred on the early retirement of debt, corporate overhead, certain technology activities, as well as licensing revenues received. The company was founded in 1875 and is headquartered in Houston, TX.
COP breaking through resistanceWatch for a pullback somewhere near this old resistance/new support line. Good volume. Stop placed below the EMA's and the previous weekly candle. Target is 2R and below the next resistance.
$COP could be forming a handle If history repeated itself, COP could be forming a handle. Expecting a deeper pullback in the intermediate term.
COP Approaching Support, Potential Bounce!COP is testing its support at 61.25 (100% Fibonacci extension, 61.8%, 50% & 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 68.34 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching support at 4.55% where a corresponding bounce could occur.
Conoco Phillips cranking oil and gas - 1M chartCOP riding the cheap energy supply of LNG with technology and gas sales (LNG, CNG).
Looks like good buy based on trend and MACD for next year for those looking for safe haven. Dividend could be 4x higher. 1.5% Dividend
LNG DLNG SHI NEXT TELL CLNE
LNG expands to 600 x its volume to make natural gas, so as compressed liquid cheap to transport provided storage insulation, most good for 6-8 mo.
LNG offers 30% reduction in CO2 over coal and oil energy fuel sources, so developing countries will be using for forseeable decade until solar, wind, EV, hydro, wavepower are utilized.
EU will be sourcing more LNG per recent trade discussions. Safe from US-CH. China just signed agreement with QATAR Gas and another buy if it goes IPO. QATAR wanted
to be more public since 2014, but haven't seen it.
$COP - Treacherous Really, really, not liking it. Surprisingly, daily chart @ first glance caught me off guard - thought it was either super dumb bullish or just too bullish to sustain itself. I'd much rather jump on a trade that's 100% to me, but since I was thrown off @ first, I definitely won't throw out the possibility of more upside towards $75. Bearish point of view - I'd rather keep it @ this level @ let the exhaustion of testing resistance bring the trend down. From a bullish perspective, break of $75 would highly contradict the correlation of balance between the MA's. From a personal perspective, charts tend to be pretty honest, so $66 shouldn't be too far off at all.
SHORT COPUpward momentum is seemingly exhausted in both daily and weekly timeframe. Price jumped down out of the uptrend triangle channel in daily, plus bearish convergence appear in MACD histogram accelerate SHORT bias
$COP H&S on Monthly?Looks like it.. Blocks of $COP and $DBO may be pointing to an oil top. $USO #CL_F
COP expected to decline for the next 2-3 weeksAfter a possible double top, COP is likely to fold back to the mid-trend support line(-7.7%) or bottom-trend support line (-14%).
Crude Oil WTI Futures are currently following a similar trend.
COP: Potential 240M 3-Drive completion Time for some mean reversion play. COP is the sore thumb sticking out amongst the oil plays with the stock making new highs post Feb crash. With results coming up and WTI completing its own 3-Drive formation as the pipes out of the Permian get clogged, it would be a good idea to put on some downside directional trade on COP. Given the out performance vs. the XLE, I would be inclined to look at a -COP/+XLE relative trade here.
Short term bullish, mid term bearish, long turn bullishIt looks like COP has been trending nicely for a few years and I expect the range highs to continue due to seasonality. Will look to revisit this in the low 50's around October.
COP hit wave 4 bottom?I was expecting COP to drop soon, did not think it would be so quick nor a one day event. If yesterday was truly the bottom and wave 4, we should be on our way to 63 level and beyond. This should occur within 2 weeks
COP Long Swing PlayOIL Play. COP broke out of coil recently on daily chart. Break of horizontal resistance around 58 ish can get this up to 62 (based on depth of W pattern).
Notes on chart.
