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Conocophillips Set to Possibly Rebound After Yesterday's Selloff of 3.92%

By Shiri Gupta

Conocophillips (NYSE:COP) traded in a range yesterday that spanned from a low of $51.69 to a high of $52.78. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $52.71 on volume of 2.4 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 July 26th, 2019 by issuing a Downtrend alert when the shares were trading at $58.90. Since that call, shares of Conocophillips have fallen 8.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Conocophillips share prices have been bracketed by a current low of $51.70 and a high of $80.24 and are now at $51.70. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.6%.

Keywords: rebounders ConocoPhillips

Ticker(s): COP