ConocoPhillips (COP) Continues Rally, Short-Term Drop Expected

By: Chris Guthrie
Originally Updated on
February 1, 2018

7:30 PM GMT

Our original projections of the Cycle wave 3 appears to have been 7 days premature. This should not impact our wave 4 bottom by too much. Our new levels of interest are 58.95, 57.20, 56.36, and 53.78. The average retracements, mentioned in the original article below, over the course of the Grand Supercycle have not changed and are responsible for these levels of interest. 2017 Quarter 4 earnings failed to result in major upward movement which instills confidence the stock will continue to fall and carryout this corrective wave. Our target price has risen to 56.20 and moved to March 5, 2018.

Short-term top and bottom

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