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Sitting on a Cash Pile 14.0? Crude Oil Demand Driving Prices

#cash #bullish #buy

$COP

ConocoPhillips (NYSE:COP) reversed and broke out on 4 May at 52.57. Thus garnering an early call Cash Pile Buy rating with a 1yr price target of 80.40.

The Street’s consensus target is at 65.07 and the stock is currently trading at 55.49 within its 52 wk trading range of 27.53 – 61.14.

The Key support is at 54.89 and the resistance is light thru 60.24.

Our Key technical indicators are starting to flash Very Bullish in here.

ConocoPhillips explores for, produces, transports, and markets Crude Oil, bitumen, natural gas, liquefied natural gas (LNG), and nat gas liquids worldwide.

The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

The company was founded in Y 1917 and is HQ’d in Houston, Texas.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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