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Conocophillips (COP) Approaches New Upside Target of $70.81

By James Quinn

Shares of Conocophillips (NYSE:COP) have bullishly opened above the pivot of $69.72 today and have reached the first resistance level of $70.33. Investors may be interested in a cross of the next upside pivot targets of $70.81 and $71.91.

Over the past year, Conocophillips has traded in a range of $38.80 to $70.59 and is now at $70.32, 81% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has slid 0.5%.

Potential upside of 3.6% exists for Conocophillips, based on a current level of $70.32 and analysts' average consensus price target of $72.85. The stock should find initial support at its 200-day moving average (MA) of $46.03 and further support at its 50-day MA of $41.76.

SmarTrend recommended that subscribers consider buying shares of Conocophillips on February 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.03. Since that recommendation, shares of Conocophillips have risen 22.5%. We continue to monitor COP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts ConocoPhillips

Ticker(s): COP