YCP trade ideas
If you're not already long $COP...I am waiting to see if $COP price action shows that buyers are continuing to outpace sellers(longterm uptrend). For me to believe this is true the price must close above the current trendline.
Conoco taking another leg? $COPBeen long COP for awhile. It is in an uptrend. Recent short term consolidation looks to be breaking higher today. Based on the price action I am super bullish on oil in general, especially American oil stocks given the new political situation. There are so many opportunities this is only one.....
CononcoPhillips Short Setup We have been watching the us energy stocks and looking for signs of a break down. COP is one that appeared to be in correction and has just recently broken down out of the triangle. We're watching for a retest & rejection and then will be selling.
COP Corrective structurewatch out for impulse after corrective structure is completed or watch breakout the top trendline for next impulse.
Only Gap At This Point Is RequiredAs Said in title only gap at this point can make this market move to dogs.
Rules to short:
Short when market breaches the red horizontal line
Reasons To Short:
Standing on the volume any gap can make this market to go bump
Divergence will be eliminated after gap so there will be nothing left to hold this market
Market will follow trend if gap down
News looking like we can have a gap so waiting for that as well
holded at this area and moving in a upward channel which is very strong pattern
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New down trend or rebound?Buy 44 Put and Call 45, good Strangle position, considering possible rebound or new down trend.
11% chance of loss, gain opportunity .......Time will tell
Get In Your Calls and Prepare PutsCOP continues to stay in a trend channel. Although it takes a while to bounce between the support and resistance levels, it is consistent. Expect COP to hit the resistance prior to earnings date. It will then decline after earnings and who knows how low it will go. Also anticipate the ups and downs of oil to keep this cyclical. Place your calls and prepare puts!
Bull Divergence COPBullish Divergence seen on MACD, RSI, and Stock RSI, indicate that this recent fall of COP stock is soon nearing. There is not clear divergence on the weekly chart, only the daily. So I am not expecting this rally to be a complete trend reversal, however, there is ample room to go up a bit to correct for this recent sell off.
COP Box BreakoutI think oil is going to squeeze and this should be a good short term long on COP.
Ryan
Will $COP Bounce before it heads $30s?This bearish rounded top may predict that price heads the lows of $30 but there is a higher probability that it will bounce back to Sept low $45 before it heads $30. in the short term bullish and long term bearish. Real-time alerts go www.2waytrading.com
