1
COP stock is gaining momentum, willing to surpass the hurdle of $116.
2
Buyers are keen to retain the bullish territory near $125.
ConocoPhillips stock (NYSE: COP) rebounds from the 20-day EMA and is struggling to sustain above the 61.8% Fib level on the charts. Moreover, the price action favors the bulls and holds the gains for the past sessions above neutrality.
Recently, COP stock has surpassed the neckline of the consolidation phase and escaped the 50% Fib level above $107. Afterward, buying momentum was witnessed on the charts, where sellers got trapped.
Furthermore, the retracement in price resulted from the Q2 earnings disappointment, leading to retesting of the 20-day EMA. However, the sentiment was overcome now, and fresh buying momentum was noted on the charts. If the price sustains above $117 decisively, it will rally toward $125 in the following sessions.
At press time, COP stock price is trading at $115.59 with an intraday gain of 0.97
We współpracy z: https://www.thecoinrepublic.com/2023/08/09/cop-stock-signals-bullishness-will-it-continue-to-lift-gains/
