Want to know the current price of ConocoPhillips and what’s next for COP shares? On this page, we share the latest Conoco Philips news and share buying tips. You can also view the latest ConocoPhillips Forecast for 2022 and 2023 from our experts.
Should you buy or sell ConocoPhillips stock today? To what levels can the shares of this company rise in a year, two, three? How much will ConocoPhillips be worth in 2021, 2022, 2023? We have been making currency rate forecasts for a long time, and we can also predict the behavior of the stock market using technical analysis and simple indicators.
We also take into account the technical, fundamental analysis of stocks, the news background, the general geopolitical situation in the world and other, smaller factors. The stock forecasts indicate target levels for COP stock, both up and down.
ConocoPhillips Forecast for 2022 and 2023
Quotes of ConocoPhillips continue to move within the correction and the bullish channel, and the bulls manage to keep the asset above the support area. Moving averages indicate a short-term bullish trend in COP stock. Prices are again testing the area between the signal lines, which indicates pressure from buyers of securities and a likely continuation of the rise in the near future. At the time of publication of the forecast, the share price is 54.65 per share. As part of the forecast, we should expect an attempt to develop a correction and test the support level near the area of 45.05. Further, the price bounces up and the continued rise in the value of securities. The potential target of such a movement in shares is the area above the level of 95.05 already in 2021, 2022, 2023.
An additional signal in favor of the growth of ConocoPhillips quotes will be a test of the ascending trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the rising channel. Cancellation of the option to raise the price of ConocoPhillips shares will be a fall and a breakdown of the level of 36.55. This will indicate a breakdown of the support area and the lower border of the channel, in which case we can consider a continuation of the decline in securities to the area at the level of 20.05. It is worth waiting for confirmation of the rise in shares with a breakdown of the resistance area and closing above the level of 65.55.
ConocoPhillips Forecast for 2022 and 2023 assumes the development of a decline and a test of the support area near the level of 45.05. Where should we expect a rebound and an attempt to continue the rise of shares in the area above the level of 95.05. In favor of the growth of securities, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the COP rise option will be a fall and a breakdown of the level of 36.55. This will indicate a breakdown of the lower border of the channel and a continuation of the fall in value to the area below the level of 20.05.
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