Thoughts about COP?

[jrstafford1]

I bought this a few weeks ago. Anybody have any thoughts about what it will do in the coming weeks/months?

[wallstreetsedge]

good buy! based on charts, looks like its going to $100

however, in my opinion xom is a better buy vs. cop

im a bit more aggressive though so if i were looking to get into that sector, id be buying uso

[jrstafford1]

Thanks for the response. COP started to dip a little last week so I started wondering if it would come back up. I'm somewhat of a newbie and still learning how all this works.

[jrstafford1]

Being new at this, I'm curious...what makes you say this might go to 100?

[chartfollowers.com]

COP has been on an uptrend. The stock has been trading in the $76-$90 range since late June '07 (6 mths consolidation). Consolidation patterns are usually continuation patterns, taking this into consideration, the stock could rally to $114 levels on upward breakout. The risk reward ratio at the current juncture does not favour the bulls.