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Watch for Conocophillips to Potentially Pullback After Gaining 1.50% Yesterday

By Nick Russo

Conocophillips (NYSE:COP) traded in a range yesterday that spanned from a low of $56.35 to a high of $56.99. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $55.93 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Conocophillips and will alert subscribers who have COP in their portfolio or watchlist when shares have changed trend direction.

Conocophillips share prices have moved between a 52-week high of $79.96 and a 52-week low of $50.13 and are now trading 13% above that low price at $56.72 per share. The 200-day and 50-day moving averages have moved 0.15% lower and 0.59% lower over the past week, respectively.

Keywords: rebounders ConocoPhillips

Ticker(s): COP