Stocks to Buy in June: ConocoPhillips (COP)
Click to EnlargeShares in most energy majors are struggling this year, but that’s not true for ConocoPhillips (COP), which has the technical strength to keep the stock riding its gains. COP shares are currently trading 6.3% above their 50-day moving average, and 12.8% above their 200-day moving average.
As one of the few energy majors having a strong year, COP’s relative strength indicator is 73 vs. an industry average of 53. Like BLL stock, that means COP stock is getting into overbought territory, but that’s not necessarily a bad thing. Sometimes it pays to run with the herd, at least for a little while.
Additionally, COP stock is entering a seasonally strong period with a history of solid returns at this time. Based on years of past trading, COP stock averages a gain of 1.7% over June and July, easily making it one of the better stocks to buy this month.