Score 7 (out of 10): CONOCOPHILLIPS sets up for +8% rally in 1 month

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What’s Going On Here?

ConocoPhillips, one of the largest U.S. independent oil producers, will provide natural gas and manage a carbon capture and storage facility for a proposed U.S. hydrogen gas project to be jointly developed with Japan’s largest utility JERA.

Why Now?

CONOCOPHILLIPS has reached a new medium term high. Previously, during similar occasions, CONOCOPHILLIPS shares had a median return of +8%, over the following 1 month – based on 10 historical occasions with 7 of those showing positive returns (70% hit ratio). This buy signal for CONOCOPHILLIPS received a high score of 7 (out of 10). This insight was generated on 2022-September-12 with last price of 114.39.

What’s This Token About?

CONOCOPHILLIPS is in the Oil Comp-Explor&Prodtn business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: COP US.

What’s My Risk / Reward and Time Horizon?

We found 1 month to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 123.49 (+8%) has been reached. Based on CONOCOPHILLIPS’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 109.39 (last price at 114.39), which is equivalent to a -4.4% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

13.7% (May-2022), 19.4% (January-2022), 20.1% (September-2021), 6.4% (June-2021), 9.3% (February- 2021), 10.2% (November-2020), -9.7% (May-2020), 6.6% (December-2019), -12% (September- 2019), -2.4% (February-2019).

Historical Chart:

Summary:

NameCONOCOPHILLIPS
ViewUp
Star (1 to 10)7.0
Target8%
Time1 month
Hit Rate70%

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