Las acciones de ConocoPhillips aumentaron un 5.09% debido a un patrón de reversión alcista, mientras que la resistencia en los 99.86 dólares se acerca.

Conocophillips (COP) surged 5.09% in the most recent session, closing at $98.72 amid elevated volume (9.6 million shares). This sharp reversal follows a prior 3.26% decline, suggesting short-term volatility. The price action reflects a potential bullish reversal pattern, with the session’s high ($99.86) acting as a key resistance level and the low ($94.33) as a critical support. The large body and minimal wick on the candle indicate strong buying pressure, though the inability to close near the session high implies some near-term caution.

Candlestick Theory

The recent bullish reversal candle, coupled with a prior bearish candle (3.26% down), forms a potential tweezer bottom pattern, hinting at a short-term support level around $94.33. Key resistance levels include the recent high of $99.86 and the 2025-04-09 peak at $92.47 (now a psychological hurdle). Support levels are anchored at $93.91 (prior close) and the 2025-03-21 trough of $101.92.

The price action suggests a possible continuation of bullish momentum if the $99.86 resistance is breached, but a retest of $94.33 could trigger further consolidation.

Moving Average Theory

Short-term moving averages (50-day, 100-day) have crossed above the 200-day MA, indicating a bullish trend. The 50-day MA currently sits near $95.50, while the 200-day MA is around $92.50. The 20-day MA ($96.80) aligns with the 50-day MA, reinforcing the uptrend. However, the 200-day MA remains a critical support level; a close below $92.50 could trigger a reevaluation of the medium-term trend. The confluence of moving averages suggests a continuation of the bullish bias, but traders should monitor for a potential breakdown below the 50-day MA as a bearish signal.

MACD & KDJ Indicators

The MACD line crossed above the signal line in the last three sessions, confirming bullish momentum. However, the histogram has been narrowing, indicating waning strength. The KDJ indicator (K=82, D=75, J=105) suggests overbought conditions, with the J line nearing 100—a potential warning of a near-term correction. Divergence between the KDJ and price action (e.g., higher highs in price but lower highs in J) may signal weakening momentum, increasing the probability of a pullback to test the $94.33 support.

Bollinger Bands

The 20-day Bollinger Bands have expanded, reflecting increased volatility. The price closed near the upper band ($99.86), a classic overbought signal. A break above the upper band may indicate continued bullish momentum, but a retest of the lower band ($93.11) is likely if volatility contracts. The bands’ width (currently 6.75 points) suggests high volatility, which could persist until a key level (e.g., $99.86) is decisively breached or rejected.

Volume-Price Relationship

Trading volume spiked to 9.6 million shares during the 5.09% rally, confirming the strength of the move. However, volume has declined in the subsequent session (7.99 million), suggesting reduced conviction. A sustained increase in volume on a pullback would validate renewed buying interest, while declining volume during a rally could indicate a lack of follow-through. The current volume pattern aligns with the price surge but lacks confirmation for a sustained breakout.

Relative Strength Index (RSI)

The 14-day RSI is at 68, approaching overbought territory (>70). While this does not yet signal an immediate correction, it warns of potential exhaustion. A close above 70 would validate the bullish momentum, but a drop below 50 could trigger a bearish reversal. The RSI divergence (higher price highs but lower RSI highs) adds a cautionary note, suggesting a possible retracement to test the $94.33 support.

Fibonacci Retracement

Key Fibonacci levels derived from the 2025-04-09 high ($92.47) and 2025-04-10 low ($83.29) include 38.2% ($89.09), 50% ($87.88), and 61.8% ($86.67). The current price ($98.72) is above the 100% retracement level, indicating a potential extension phase. A breakdown below $99.86 could target the 78.6% retracement at $91.92, aligning with the 2025-06-20 high.

The analysis highlights confluence between the 50-day MA, Bollinger Bands’ upper band, and Fibonacci extension levels, suggesting $99.86 as a critical threshold. However, divergences in the KDJ and RSI indicators, coupled with narrowing MACD histograms, imply caution. A breakout above $99.86 with increasing volume would strengthen the bullish case, while a close below $94.33 could trigger a retest of the $91.92 support. Traders should prioritize risk management, given the overbought conditions and potential for a short-term correction.