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  • ConocoPhillips Bucks The Morning Trend 0 comments
    Feb 10, 2012 10:09 AM | about stocks: XOM, COP, CVX, BP, XLE

    Conocophillips (NYSE:COP) is one of the world's leading integrated energy stocks. This morning, the stock is trading higher by 0.50 cents to $72.05 a share. COP stock is trading higher despite the sharp early morning sell off in most other energy stocks. This early move in COP tells us that the stock has intra-day relative strength. If the major stock indexes do bounce higher at some point today this stock could lead the markets higher. Short term traders must watch for intra-day resistance around the $72.50 and $73.00 levels.

    Other leading energy stocks that are declining lower this morning include Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), and BP plc (NYSE:BP). Traders should watch the U.S. Dollar Index very closely today as these stocks will often bounce when the U.S. Dollar declines.

    Nicholas Santiago

    Stocks: XOM, COP, CVX, BP, XLE
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