ConocoPhillips (NYSE: COP)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations.

Take a look at the 1-year chart of Conoco (NYSE: COP) below with my added notations:

COP has formed key support in the $65 (green) area over the past four months. The stock is also declining against a down trending resistance line (red). These two levels combined have COP stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those two levels.

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Thor Industries, Inc. (NYSE: THO)

Thor Industries, Inc., through its subsidiaries, designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories primarily in the United States and Canada. It operates in two segments, Towable Recreational Vehicles and Motorized Recreational Vehicles.

Take a look at the 1-year chart Thor (NYSE: THO) below with my added notations:

THO had formed a key level of resistance at the $70 level (red) during the past several months. However, the stock broke through that resistance yesterday. If THO comes back down to that $70 level, which should now act as support, a bounce could be expected.

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Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors.

Take a look at the 1-year chart of Adient (NYSE: ADNT) below with my added notations:

1-year chart of Adient (NYSE: ADNT)

Back at the end of 2018, ADNT had formed an important level of resistance to watch at around $25 (red) mark. The stock has made its way back to the level again, and a close above that $25 level should lead to higher prices.

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Dycom Industries, Inc. (NYSE: DY)

Dycom Industries, Inc. provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

Take a look at the 1-year chart of Dycom (NYSE: DY) below with added notations:

After declining all of the past year, DY has now fallen into a sideways trading range. While in the range, the stock has formed a key resistance level at $50 (red), and a $45 support (green). At some point the stock will have to break one of the two levels.

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Toronto-Dominion Bank (NYSE: TD)

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking.

Take a look at the 1-year chart of Toronto (NYSE: TD) below with my added notations:

TD has formed a down-channel over the past two months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance.

When it comes to channels, remember that any (3) points can start the channel, but a 4th point or more confirms it. You can see that TD has tested its channel trendlines multiple times.

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