ConocoPhillips (COP) NewsBite - COP Could Be On the Move

Posted: Monday, October 26, 2009 10:20 AM EDT

ConocoPhillips (COP) could be on the move today and is now at $52.75, up $0.78 (1.5%) on volume of 1,688,108 shares traded. Over the last 52 weeks the stock has ranged from a low of $34.12 to a high of $57.44. COP was covered in a Vic Wisemann report today. To read the report, go to www.marketintelligencecenter.com/vw102609 . ConocoPhillips stock has been showing support around $50.68 and resistance in the $53.88 range. Technical indicators for the stock are bullish and S&P gives COP a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on COP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 46 range. [ABR-Seven Summits Strategic Investments NewsBite]

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