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Bearish Moving Average Cross by Conocophillips (COP)

By Amy Schwartz

Today, shares of Conocophillips (NYSE:COP) have fallen below their 10-day MA of $64.90 on a volume of 1.6 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Conocophillips has traded in a range of $38.80 to $67.30 and is now at $64.50, 66% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 2.2%.

SmarTrend recommended that subscribers consider buying shares of Conocophillips on February 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.03. Since that recommendation, shares of Conocophillips have risen 15.4%. We continue to monitor COP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ConocoPhillips

Ticker(s): COP