CXO rises to highest close since May 21st

Concho Resources Inc. (CXO) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


CXO unable to break through key resistance level
CXO finds support at 100-day moving average
CXO closes higher for the 2nd day in a row
CXO pushes through previous session high
CXO rises to highest close since May 21st


Moving higher for the 2nd day in a row, CXO ended the week 4.68% higher at 148.08 after gaining $2.53 (1.74%) today. Today's closing price of 148.08 marks the highest close since May 21st. Closing above Thursday's high at 145.73, Concho Resources confirms its breakout through the prior session's high having traded $4.36 above it intraday.

Daily Candlestick Chart (CXO as at Jul 13, 2018):

Daily technical analysis candlestick chart for Concho Resources Inc. (CXO) as at Jul 13, 2018

Friday's trading range was $5.26 (3.6%), that's slightly above last trading month's daily average range of $4.54. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Unable to break through the key technical resistance level at 148.49, the market closed below it after spiking as high as 150.09 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After trading as low as 144.83 during the day, the stock found support at the 100-day moving average at 145.17.

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Market Conditions for CXO as at Jul 13, 2018

Loading Market Conditions for CXO (Concho Resources Inc.)...
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