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After Yesterday's Decline of 3.06%, Conocophillips Offers Investors Better Value

By Nick Russo

Conocophillips (NYSE:COP) traded in a range yesterday that spanned from a low of $67.85 to a high of $70.31. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $68.25 on volume of 3.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Conocophillips on October 18th, 2018 by issuing a Downtrend alert when the shares were trading at $72.35. Since that call, shares of Conocophillips have fallen 3.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Conocophillips have traded between a low of $48.97 and a high of $80.24 and are now at $67.91, which is 39% above that low price. The 200-day and 50-day moving averages have moved 0.20% higher and 0.24% lower over the past week, respectively.

Keywords: rebounders ConocoPhillips

Ticker(s): COP