YCP trade ideas
COP elliott wave and fibonacci analysisLook to short COP if resistance is confirmed at around 71.5. target is ~67.7, which is a good support level and the 38.2% fibonacci retracement level.
Intra-day COP Trading LevelsThis morning, leading energy stock ConocoPhillips (NYSE:COP) is coming under some selling pressure. COP stock is trading lower by 0.71 cents to $73.64 a share. The stock is pulling back from a new 52-week that was made just yesterday. Traders should watch for intra-day support levels around the $73.27, and $72.95 levels. Both support areas could give COP stock an intra-day bounce. Traders must make sure that they watch the pattern that is formed over the next few hours, any consolidation just above a support level could negate the strength of the support area. Once again, these are day trading levels only.
Nicholas Santiago
www.InTheMoneyStocks.com
HOLD COPIn my opinion, we should hold COP. For short term ( . . . 2 months), I would say it is a safe choice. :)
Warning: Gain or loss on your investments is your liability.
