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Bearish Moving Average Cross by Conocophillips (COP)

By David Diaz

Conocophillips (NYSE:COP) shares have crossed bearishly below their 10-day moving average of $62.18 on a volume of 1.3 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Conocophillips share prices have moved between a 52-week high of $80.24 and a 52-week low of $56.75 and are now trading 7% above that low price at $60.54 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Conocophillips and will alert subscribers who have COP in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses ConocoPhillips

Ticker(s): COP