Energy, buyers in control
ConocoPhillips edges up 0.2% as buyers control 88% of daily volume
Energy, buyers in control
Our view last week
The buy signal on ConocoPhillips, fired last week, is holding: the confirmation week closes up 4.8%, the fourth straight higher low on the daily chart. ConocoPhillips stock is riding a strong tailwind from the energy sector - the sector ETF is up 11.3% over the past month - but underneath, volume is still contracting and the distribution phase flagged last week hasn't closed out yet. Our weekly technical analysis goes into the detail below.
This week's summary
ConocoPhillips closes the week barely higher, up 0.2%, but under the surface the message is sharper: 88% of daily volume flows on the buy side, dominance that pushes the price close to the 7-day high, in the 122 area. The weekly structure stays bullish, with all four structural moving averages aligned. The buy signal that fired two weeks ago is holding: the second week closes higher, and the August 6 earnings report adds a factor worth watching.
IQS Phase
67
in tension
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#30 / 120
US stocks in progress
Trade P&L %
+5.03%
from signal to date, no stop loss
Rank position
ranks 30th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein positive regime
Performanceweekly -0.12% · monthly +12.76%
COP belongs to the energy sector (reference ETF XLE). The sector is classified in positive regime according to our weekly reading.
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