For ConocoPhillips, Stand at the Ready
On a technical basis, I like ConocoPhillips (COP) -- and this is partly due to its general bullish pattern of higher highs and lows, as well as the fact that the stock is above its 200-day and 50-day simple moving averages. In addition, I'm seeing a Fibonacci price-cluster setup that includes multiple symmetry projections.
For those of you who are not yet familiar with "symmetry," my definition -- as it relates to the markets -- is similarity or equality when comparing price swings in the same direction. This is also known as a "measured move."...278 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.