ConocoPhillips Trading Analysis (14/05/2024)

The trend is ascending. The stock is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss at 120.75.

Target price levels at 127.20 and 133.80.

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