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ConocoPhillips Is Testing Major Support Near Its 2015 Lows

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ConocoPhillips (COP - Get Report) is testing its 2015 lows today. The stock is working on a four-day losing streak that has driven shares more than 12% lower as this key level comes into play. Considering the heavy downside pressure that ConocoPhillips has been under since the beginning of December, a hold near the $41 area would be a huge victory for the bulls.

ConocoPhillips spent nearly all of October and November in a narrow range as trading volume contracted dramatically. This sideways pattern changed in a big way as December got underway...


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