ConocoPhillips is a global exploration and production company with a diversified Oil and Gas portfolio. Its operations and technology support the production of energy to meet global demand.
ConocoPhillips ranks 91st in the SIA S&P 500 Index Report, having declined 23 positions over the past month while advancing 326 positions over the past quarter. This combination reflects a recent moderation in relative strength following a substantial quarterly improvement. The Energy sector remains Favored in the SIA Sector Report, ranking 4th out of 31 sectors.
The shares have declined 7.62% over the past month, compared with a 4.17% decline for the S&P 500 Index Fund (EWIIVV). Over the quarter, ConocoPhillips has gained 21.83%, while the benchmark has declined 1.91%. Year to date, the shares have advanced 38.38%, compared with an 11.16% gain for the benchmark. Although the stock has underperformed over the most recent month, its quarterly and year-to-date returns remain ahead of the benchmark.
The latest Point & Figure signal is a bullish Spread Double Top. The shares are currently at support of $123.92, with the next support level at $112.24. Initial resistance is extrapolated at the 3-box reversal level of $136.81, followed by resistance at the recent highs of $142.34. The current support test provides a reference point for assessing the recent pullback within the broader positive trend.
ConocoPhillips has an SIA SMAX score of 7/10, representing positive near-term relative strength against the asset classes measured by this indicator. The combination of a 7/10 SIA SMAX score, a ranking of 91st in the SIA S&P 500 Index Report, and a 326-position quarterly advance provides a technical framework through which investment professionals can assess the shares alongside their own investment objectives, risk parameters and portfolio-management processes.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.
