CXO stock: buy or sell

CXO stock price: $65.60 -6.02% At close on Jan 15th, 2021

Updated on:
Mar 18th, 2021

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CXO stock brief

  • Concho Resources stock dropped -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. Up to date, shares made a 65.82% profit since the beginning of this rally

Should I buy Concho Resources stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. 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 we expect a selloff for $CXO in the next few days, or that it may 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 good moment to sell and get your profits. Trading strategies let us to avoid rash decisions based on our sentiments or the noise surrounding the market. We like very simple strategies to guide us on when is the best time to sell our shares. Be aware that these strategies should not be used for selling short Concho Resources stock

As a golden rule, you must never hold an operation that leads to higher than expected losses by the time of purchase. The timing to sell shares should always be determined by the stop-loss (automatic or manual)

Is it time to sell Concho Resources stock?

Currently, Concho Resources stock doesn't match any of our preferred sell setups, so if you own Concho Resources stock and your operation is in profit probably is not time to sell now

Concho Resources ratings

In the last month we couldn't find any rating for Concho Resources

Concho Resources stock analysis

Since in October 2020, Concho Resources has been drawing an uptrend that so far marked an amazing 65.82%. The chart shows rising 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. Like in all uptrends, price needs to rest and now price is consolidating the gains in a range between $70.44 and $56.42

SMAs overview

CXO stock SMAs chart

Supports and resistances

The current resistance levels are:

  • R1: $65.85 (0.38% above)
  • R2: $68.52 (4.45% above)
  • R3: $68.78 (4.85% above)
  • The current supports are:

  • S1: $62.76 (-4.33% below)
  • S2: $62.45 (-4.80% below)
  • S3: $60.37 (-7.97% below)
  • Bollinger bands

    Since the price surpassed the upper band last January, the price sliced by 6.87%

    CXO stock Bollinger Bands chart

    Relative strength index

    After breaking out the line of 70 yesterday, fell back below with a value of 58.53. This is a signal of weakness for the stock and it should get us on alert of weakness in the stock price

    CXO stock RSI chart

    Concho Resources stock price history

    Concho Resources started trading 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 $1,000USD on the IPO would have a value of $5,769.57 nowadays.

    1: Adjusted price after possible price splits or reverse-splits

    CXO stock price history chart

    Price target for Concho Resources stock

    Nobody can predict how much a share will be priced in the future. Banks and financial organisations publish their analysis predicting how a stock will performance in the future.

    Along with buy or sell recommendations, brokerage institutions publish their price forecasts based on the stock price action and the company fundamental data. Most of these forecasts follow the publication of new fundamental information by the company, and usually. Again, these forecasts are not direct recommendations for individual traders and should not be followed blindly.

    We don't have any target price posted in the previous 30 days for Concho Resources.

    Earnings and financials

    Concho Resources ($CXO) hosted the quarterly shareholders call and posted the report in mid-February.

    This compares to Earnings of $1.03 per share a year ago, so current EPS means -100.00%. Looking at turnover, figures tanked a -25.48% compared to $10.5B same quarter a year ago.

    CXO ($CXO) presents quarterly earnings report late next April.

    Concho Resources performance

    CXO performance compared
    Company1m3m6m
    Concho Resources ($CXO) 5.00% 33.80% 29.80%

    Disclaimer:
    The opinions published in this article are personal and not recommendations for you to buy or sell shares. The author of this article does not have an understanding of the particular positions of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are expressed for educative reasons only

    CXO 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 dateApril 29th, 2021

    Frequently asked questions

    What is Concho Resources stock symbol?

    Concho Resources Inc. is a public company trading in the US stock market with the CXO symbol

    Is Concho Resources stock a buy or sell?

    Concho Resources had no ratings in the last 4 weeks Read the article to get additional tips on trading CXO stock.

    Will CXO go up?

    There were no price targets published by market analysts in the last month for Concho Resources.