The Conoco Phillips (NYSE) Analysis, Chart, and Trading Idea

#COP
 

The trend is overall ascending. The stock is traded in the range between 365 and 135 moving averages. There is a bullish divergence on the Awesome Oscillator, and the moving average of the Stochastic Oscillator is out of the oversold zone. The breach of 115.35 will start the formation of the upward wave structure.

Trading idea:

Buy at the breach of 115.35;

Stop-loss: 106.70;

Target price levels: 126.00, 136.00.