ConocoPhillips (COP) tests resistance at $10.91%

End of the day trading on Monday, Dec 18 market cap stood at $62741 M . Company continues to hold above at 10.91% in the last 200 day average .

As per the sell side forecast report ConocoPhillips by 2018 eps is expected to slow down to 219.69%, with robust growth & the core fundamentals continue to support manageable growth for the business at 18.60% EPS.

Company’s low ROE might not always be a problem as slumping profits are likely to rebound in long term. Company is trading above its short-term resistance line by 23.84%, and the massive volume is also a bullish sign and can act as a fail safe upward-breakouts . Business are now recognizable , very significant support and resistance levels..

COP level of quick assets to current liabilities stands at 2.2, more specifically ConocoPhillips present short-term liquidity position is solid . Considering earnings from assets independent of board decisions income statement indicate lower income from assets and analyzing ConocoPhillips ROA at -3% a telltale sign of decline in financial and operational performance.

COP liquidity or ability to pay off short-term debts reported at 2.4. The weak longs were stopped out of bull run on subsequent week bears causing sharp allies in a relatively short time frame, to simplify charts indicate negative reversals with rsi 60.5 indicating of the downtrend.

Company few days back tested but failed to hit new high due to 1.2 Beta, this offers company versus the overall sector has low risk and a better performance rate at 1.2.

Currently the Basic Materials index is trading at 4436.52 with 1.71 changeSupported by a up-down ratio of 0.89x, total MFI closed at $-195.15mn. With respect to block trades, money flow ended $-187.70mn with tick up at $278.17mn and tick down at $465.87mn led an up /down ratio of 0.60x.

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