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After Yesterday's Decline of 3.75%, Conocophillips Offers Investors Better Value

By James Quinn

Conocophillips (NYSE:COP) traded in a range yesterday that spanned from a low of $39.98 to a high of $41.18. Yesterday, the shares fell 3.8%, which took the trading range below the 3-day low of $42.06 on volume of 3.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Conocophillips share prices have moved between a 52-week high of $67.13 and a 52-week low of $20.84 and are now trading 92% above that low price at $39.94 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.9%.

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.

Keywords: rebounders ConocoPhillips

Ticker(s): COP