ConocoPhillips Trading Analysis (15/10/2024)
The trend is ascending. The stock is trading in a 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 an oversold condition.
Trading idea:
- Buy when the formation of the upward wave structure is truncated, when wave A breaks the sloping channel of the descending truncated structure.
- Stop-loss below the local minimum of the descending structure at 108.80.
- Price targets at 112.70 and 115.50.
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