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Bearish Moving Average Cross by Conocophillips (COP)

By Shiri Gupta

Today, shares of Conocophillips (NYSE:COP) have crossed bearishly below their 10-day moving average of $71.58 on a volume of 1.1 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Conocophillips share prices have been bracketed by a low of $42.26 and a high of $73.75 and are now at $70.06, 66% above that low price. The 200-day and 50-day moving averages have moved 0.52% higher and 0.33% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Conocophillips on June 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.97. Since that recommendation, shares of Conocophillips have risen 4.6%. 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