ConocoPhillips stock holds near lows amid weak momentum and persistent seller pressure

Traders Union
All News
Companies
ConocoPhillips drops 0.71% today

Highlights

ConocoPhillips continues to trade firmly below major moving averages, confirming sustained bearish momentum and persistent seller dominance.
Bearish technical signals prevail, with most momentum indicators in oversold territory and little evidence of a coming technical bounce.
Next week’s expected range is $103.11 to $105.92, with downside risks dominant unless oversold conditions trigger a sharp reversal.

Downward trend persists as price holds below key moving averages

ConocoPhillips ($COP) is trading at $103.22, firmly below the key moving averages: MA-20 ($112.50), MA-50 ($117.12), and MA-200 ($105.58). This setup signals strong downward momentum for the short, medium, and longer-term trends, with persistent seller pressure overriding any major support from higher moving averages. The Ichimoku Kijun level at $112.62 sits well above the current price and serves as immediate resistance. For near-term support, watch the MA-200 ($105.58), followed by MA-100 ($118.22) as key resistance. Immediate resistance levels are found at the Ichimoku Kijun ($112.62) and MA-20 ($112.50).

Decisive bearish momentum with oversold signals and weak bounce attempts

Momentum indicators point decisively bearish. On D1, MACD is negative and signals "Sell" while ADX reads a weak trend with a neutral bias, suggesting limited directional conviction. RSI sits near 30.8, just above oversold territory, and Stoch RSI is at 0.00, confirming deep oversold conditions. CCI also marks an "Oversold" state at –114.35. BBP registers at –3.76, highlighting dominant seller pressure throughout the session. The Awesome Oscillator aligns with the prevailing bearish tilt. $COP has fallen $2.74 (2.27%) from last week's close of $105.96, currently near the very bottom of the weekly trading range. Weekly volatility stands at 3.42%, reflecting a steady decline from recent highs, with no technical bounce yet evident.

Downside bias likely as oversold levels temper further declines

For the upcoming week, the expected price range is $103.11 to $105.92, centering near the weak end of the 52-week band ($85.57–$135.87). The probability of a rise in price next week is very low (less than 20%), as only MACD on W1 suggests upward momentum while RSI-W1, ADX-W1, and MA-50-W1 indicate a bearish setup. The baseline scenario is continued sideways movement between $103.11 and $105.92 as sellers remain in control but oversold signals limit sharp downside. A bullish scenario would require a breakout above $105.92, exposing resistance at the $110–$113 region. A bearish break below $103.11 could accelerate losses toward the yearly low. The outlook favors downside risks, but sharp reversals are possible if oversold conditions prompt short covering.

Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

Earlier, analysts noted that ConocoPhillips was experiencing sustained bearish momentum despite efforts to expand its upstream presence and LNG portfolio. Readers should now focus on the prevailing scenario, as current market signals could soon indicate either a recovery or a further deterioration in trend.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.