ConocoPhillips Trading Analysis (12/08/2024)
The trend is descending. The stock is trading in the range between 365 and 135 ЕМА. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trading idea:
- Sell when the formation of the downward wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss at 109.10.
- Price targets at 105.83 and 103.20.
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