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SmarTrend Watching for Potential Rebound in Shares of Conocophillips After 3.54% Loss

By David Diaz

Conocophillips (NYSE:COP) traded in a range yesterday that spanned from a low of $31.36 to a high of $32.23. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $31.48 on volume of 4.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Conocophillips has traded in a range of $20.84 to $67.42 and is now at $31.26, 50% above that low. The 200-day and 50-day moving averages have moved 0.77% lower and 3.65% lower over the past week, respectively.

Keywords: rebounders ConocoPhillips

Ticker(s): COP