ConocoPhillips Crosses Below its 10-day MA (COP)
ConocoPhillips (NYSE:COP) shares have crossed bearishly below their 10-day moving average of $47.31 on a volume of 1.7 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 $69.03 and a 52-week low of $31.05 and are now trading 52% above that low price at $47.15 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.7% while the 200-day MA has slid 0.6%.
SmarTrend recommended that subscribers consider buying shares of ConocoPhillips on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.57. Since that recommendation, shares of ConocoPhillips have risen 27.2%. We continue to monitor COP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses ConocoPhillips