Buy ConcoPhillips (COP) on corrections

ConocoPhillips (NYSE: COP) stock has got resistance near $53 levels. The COP stock is showing some weakness at current level of $51.4 and has seen a fall from near $53 level on more than one occasion.

The ConocoPhillips (COP) stock has got some support at $49 levels and again at $45 levels. One can buy the stock on dips and can use the lower end of the range around $49 to enter the stock.

ConocoPhillips (COP) is also scheduled to announce its Q3 on Wednesday, and analysts expect the net earnings to be around $0.94 for Q3.