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Chart Analysis - Week Ahead

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Chart Analysis - Week Ahead 19 September 2022

Written by

Azeem Sheriff

Senior Market Analyst

CMCMarketsAusNZ

18 Sep 2022, 19:30

Check out the trading idea of the week below!

Trading Idea of the Week

(NYSE:COP - ConocoPhillips)

BULLISH BIAS
Key levels on the chart - consider taking trades from key support/resistance levels
ConocoPhillips acquired an additional 10% interest in Australian Pacific LNG from Origin Energy (ASX:ORG) for US$1.65B. This brings ConocoPhillips’ interest to 47.5%, from which they’re expecting to receive US$1.8B in dividend distributions for 2022.
Given the macroeconomic backdrop on LNG with the Russia/Ukraine war and surging natural gas prices, this is definitely a stock to watch over!

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