CON Price Prediction Next Week
Analysis and Insights
To predict the stock price of ConocoPhillips (CON) for the next trading week, we analyze both news sentiment and technical indicators.
News Sentiment Analysis:
- Positive News: ConocoPhillips (CON) was among the top-performing large-cap stocks last week, rising 9.18% amid strength in oil and natural gas prices.
- Negative News: Goldman Sachs has cut its oil price forecasts due to an anticipated U.S. growth slowdown, which could impact oil companies like ConocoPhillips.
- Neutral News: The Trump administration's support for the oil and gas industry may provide some stability for CON.
Technical Analysis:
- RSI: The RSI_6 (66.58), RSI_12 (56.42), and RSI_14 (54.90) indicate that the stock is not overbought and has room for further upside.
- Stochastic Oscillator: The stochk_14_3_3 (80.10) and stochd_14_3_3 (68.15) suggest a bullish signal as the stock is in the upper half of the range.
- MACD: The MACD_12_26_9 (-1.04) is slightly negative, but the MACDh_12_26_9 (0.67) indicates improving momentum.
- Fibonacci Levels: The stock is near the pivot point (93.28), with resistance levels at 98.22 and 101.28, and support at 88.33 and 85.27.
Price Prediction:
Based on the analysis, the stock is expected to test the first resistance level at 98.22. Given the bullish technical indicators and positive news sentiment, the stock is likely to reach this level next week.
Predicted Price: $98.22
Recommendation: Buy
CON Similar Chart Price Prediction
The price of CON is predicted to go up -2.95%, based on the high correlation periods with SNFCA. The similarity of these two price pattern on the periods is 96.92%.
CON
SNFCA
Down: -2.95%Similarity: 96.92%
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CON Analyst's Forecast
Joanna Gajuk
B of A Securities
Strong Buy
2025-01-23
Price Target
$24 → $25
Upside
+5.93%
BofA raised the firm's price target on Concentra to $25 from $24 and keeps a Buy rating on the shares after the company announced an agreement to acquire Nova Medical Centers for $265M, pre-announced Q4 results, and provided 2025 guide that was roughly in line with consensus excluding the Nova deal contribution. The firm raised its estimates for a better Q4 and the deal and raised its multiple given the increased visibility into estimates.
