ConocoPhillips (COP) Trading Higher Despite Falling Oil Prices

Posted: Friday, March 12, 2010 2:10 PM EDT

ConocoPhillips (NYSE: COP) opened at $51.54. So far today, the stock has hit a low of $51.17 and a high of $51.77. COP is now trading at $51.50, up $.20 (0.39%). The stock hit its 52-Week high of $54.13 in November and set its 52-Week low of $35.35 last March. COP is trading slightly higher today despite falling oil prices. Oil is down $1.22 on the day to $80.89. 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 May out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (COP)