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ConocoPhillips Extends Gains from Last Week, Permit to Export LNG from Alaska Renewed by DOE

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Stocks of ConocoPhillips (NYSE: COP) are extending gains from last week, trading up 0.66 percent to $71.33 in Monday's session.

News has just crossed the wire that the Department of Energy has renewed the company's permit to export liquefied natural gas from Alaska's Kenai facility to non-free trade agreement countries.

The stock dropped off the open along with the broader indexes, but found support at the 50 percent Fibonacci of Friday's range.

All three major time frames are bullish for Conoco as the monthly, weekly and daily candles hint at an upward bias.

Posted-In: News Technicals Tech


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