The USD 69.48 support, currently tested, should allow ConocoPhillips to rally again.

According to Surperformance© ratings, the company constitutes an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements and the enterprise valuation conciliates with its visibility.Indeed, the EPS is regularly expected upward by analysts and sales should increase by 4% between 2013 and 2014 at USD 60.5 billions.

Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 69.50 area should stop this trend and allow a technical rebound towards USD 74.9. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.

So as to make the most of a potential technical rebound of ConocoPhillips, it seems opportune to open a long position at the current price. A confirmation of this pattern would enable the security to reach the USD 74.9 resistance as first target and then, the mid term resistance at USD 78.4. Investors should not insist under USD 69.50.