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Recent 52-Week Low Surpassed in Shares of Conocophillips (COP)

By James Quinn

Shares of Conocophillips (NYSE:COP) traded at a new 52-week low today of $51.35. Approximately 771,000 shares have changed hands today, as compared to an average 30-day volume of 6 million shares.

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide.

Conocophillips share prices have moved between a 52-week high of $80.24 and the current low of $51.35 and are currently at $51.35 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.3%.

Conocophillips has overhead space with shares priced $51.35, or 29.5% below the average consensus analyst price target of $72.85. The stock should run into initial resistance at its 50-day moving average (MA) of $58.84 and subsequent resistance at its 200-day MA of $63.84.

SmarTrend recommended that its subscribers protect gains by selling shares of Conocophillips on July 26th, 2019 by issuing a Downtrend alert when the shares were trading at $58.90. Since that call, shares of Conocophillips have fallen 12.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows ConocoPhillips

Ticker(s): COP