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!