ConocoPhillips

COP is in a Stage 2 advancing phase with bullish long- and medium-term structure confirmed by higher highs and rising EMAs. Price is extended above the rising 9/21 EMA zone and sits in overbought territory. Execution is deferred—stalk for pullbacks into the rising EMA support area for higher-probability entries.

• ↑Generated $2.4B free cash flow in Q1 2026, returning 45% of CFO
• ↑Integrated Marathon Oil ahead of plan, lifting production to 2.31M boe/d
• ↓P/E of 19.2x is ~1.2% above intrinsic value, raising overvaluation concern