CXO stock: buy or sell
Updated on:
Mar 2nd, 2021
2
CXO stock brief
- Concho Resources stock tanked -6.02% to close at $65.60 on the stock market last January.
- The stock is configuring an uptrend pattern since October 2020, when it bottomed at $39.56. This uptrend marked a 65.82% gain
Should I buy Concho Resources stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $CXO stock a buy?
Currently, Concho Resources stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $CXO will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Concho Resources stock?
When you are a novel trader and you own stock shares with some profit, it's really difficult to decide the correct moment to sell and get your benefits. Just as when we have to buy shares, choosing when is appropiate time to sell is not a haphazard decision, and we must use our own trading strategy. When selling, as well as buying, detailed setups are very simple to use but are only valid for selling stocks in your porfolio, not for selling short Concho Resources stock
As a golden rule, you should never keep a trade that yields higher than expected losses upon purchase. When to sell shares always has to be dictated by the stop-loss (automatic or manual)
Is it time to sell Concho Resources stock?
In the current situation of Concho Resources there is not any eligible sell setup, so Concho Resources stock holders with operations in green can keep their positions
Concho Resources ratings
In the last month we couldn't find any rating for Concho Resources
Concho Resources stock analysis
Concho Resources stock started an uptrend in October 2020, and grew an amazing 65.82%. The price shows higher tops and bottoms, and along the way provided very few entry points for those who wanted to invest. Latest pullback was last December, when price bounced at $56.42. Currently, it moves in a consolidation between its last top ($70.44) and its last bottom ($56.42)
SMAs overview
Supports and resistances
The current resistance levels are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band last January, the price sliced by 6.87%
Relative strength index
After breaking out the overbought zone yesterday, dropped back below with a value of 58.53. This is a weak signal for the Concho Resources shares and it must raise our awarness of weakness in the stock price
Concho Resources stock price history
Concho Resources went public priced at an adjusted price1 of $11.37 on Aug 2007. Since then, CXO stock has risen by 476.96%, with an average of 36.69% per year. An investment of thousand dollars at that time would have a value of $5,769.57 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Concho Resources stock
Nobody knows how much a share will be priced in the future. Banks and financial organisations post their analysis forecasting how a particular stock will performance in the future.
Along with buy or sell recommendations, financial institutions post their price predictions based on the stock price action and the company fundamental data. Most of these estimates follow the publication of new financial data by the company, and many times. If you are a small investor you should not trade based on these forecasts.
We don't have any target price published in the previous month for Concho Resources.
Earnings and financials
Investors event was hosted by Concho Resources ($CXO) on February 16 after releasing the earnings report.
Compared to the same quarter last year, EPS was $1.03, so reported EPS is -100.00%. Revenue dropped a -25.48% on an annualized basis in the , from $10.5B to $7.8B last quarter.CXO ($CXO) is hosting the Q1 earnings call late next April.
Concho Resources performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Concho Resources ($CXO) | 5.00% | 33.80% | 29.80% |
Important:
The opinions contained in this post are personal and not recommendations for you to buy or sell shares. The author of this article does not have any knowledge of the individual positions of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are provided for general educational purposes onlyCXO summary
| Friday, January 15th, 2021 | |
|---|---|
| Open | $69.12 |
| Close | $65.6 |
| Day range | $64.6 - $69.12 |
| Previous close | $69.8 |
| Session gain | -6.02% |
| Average true range | $3.11 |
| 50d mov avg | $58.80 |
| 100d mov avg | $52.40 |
| 200d mov avg | $52.92 |
| Earnings date | April 29th, 2021 |