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ConocoPhillips Is on Course to Head Even Higher


ConocoPhillips (COP - Get Report) is building on Monday's breakout move today and likely has more room to run.

Conoco are up just shy of 3.5% and are challenging last month's high near $56.70. This impressive move follows a month-long consolidation and puts shares on course for more upside. ConocoPhillips appears headed for the first retest of its 200-day moving average in over a year. Investors should expect another 4% of upside before a healthy pullback develops.

Conoco's surge off the late September lows included eight straight positive closes. During...