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Uptrend in ConocoPhillips Stock Might Take a Breather

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Part 3
Uptrend in ConocoPhillips Stock Might Take a Breather PART 3 OF 4

Where ConocoPhillips Stock Could Settle This Week

ConocoPhillips’s implied volatility

As of November 10, 2017, ConocoPhillips (COP) had an implied volatility of 22.1%, which is higher than its implied volatility of 21.5% at the end of 3Q17. In the past week, ConocoPhillips’s implied volatility rose from 21.4% to 22.1%, due to the decrease in ConocoPhillips’s stock price in the last two days of the week.

Where ConocoPhillips Stock Could Settle This Week

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Price range forecast

Based on ConocoPhillips’s implied volatility of 22.1%, assuming a normal distribution of prices, 365 days in a year, and standard deviation of one, its stock might close between $54.61 and $51.37 in the next seven calendar days. ConocoPhillips stock will stay in this range 68% of the time. On November 10, ConocoPhillips’s stock price closed at $52.99.

Peers

As of November 10, 2017, EOG Resources (EOG) has an implied volatility of 23.2%. EOG stock is expected to close between $107.94 and $101.22 in the next seven calendar days. On November 10, EOG’s stock price closed at $104.58.

Southwestern Energy (SWN) has an implied volatility of 49.2%. Its stock is expected to close between $7.12 and $6.22 in the next seven calendar days. On November 10, Southwestern Energy’s stock price closed at $6.67.

Based on the inputs used to calculate the price range, there’s a 68% probability that these stocks will close in their range for the given period.

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