Looking at the OXY Occidental Petroleum options chain, i would buy the $75 calls with
2022-10-21 expiration date for about
$3.10 premium.
Looking forward to read your opinion about it.
Drop it like it's hot!
The Fed is remaining hawkish.
Dollar started rocketing up as they spoke.
Dollar Up
Everything else mostly down coming to a theatre near you!!...
OXY STOCK LONG
ENTRY 1 $14.00
ENTRY 2 $11.75
SL $8.75
Take Profit 1 $17.75
Take Profit 2 $21.75
Take Profit 2 $26.75
Take Profit 3 $36.75
Take Profit 4 $50.75
Take Profit 5 $64.75
✨ We provide charts every day ✨
Like and Follow to help us grow family! 🎉
---
Everyone's favorite oil company Occidental Petroleum Corporation (OXY) formed a massive gap on its chart back in March.
While earnings was a mixed bag, to say the least, with dismal earnings growth, OXY still beat analyst expectations (in part by cutting spending) and is showing...
OXY has the majority of its EV tied up in oil/gas and with the recent OPEC fallout it may make sense as a long.
More research on extraction costs should probably be done because there may be a serious problem for the firm if oil prices are kept low and operations are not profitable. A minor portion of noncurrent assets is in chemicals and marketing but not enough...
As you can see by the descending trendline, the decline in OXY over the past year has actually been somewhat organized. The share price is now at a level not seen since November 2008, which leaves me tempted to initiate a small position as the risk/reward seems favorable. My suggested stop would be anywhere from $37 to $37.50.
Obviously there are a lot of...
The break is quite impulsive and going up. Today we have earnings after the close US session. High expectations that this run will continue so hold your longs.
Good Luck!
Occidental Petroleum Corp (OXY) has been trading within a Falling Wedge since the start of 2019 (1M RSI = 31.189, MACD = -6.930, Highs/Lows = -12.8700, ADX = 47.707). The RSI on the 1D chart has clearly marked the last 3 Lower Highs near the 61.000 level. We expect a decline based on that pattern and are targeting the 40.10 Support.
** If you like our free...
Price finally reached the $40 level, closing shorts here and now looking for reversal. Already seeing divergence on a weekly chart, This is a very strong support level.
On a daily chart (see below) rosk-reward for a long is best at the moment, targetting a retest fo the $58-$60 area. Could form inverse H&S here.
Next earnings on November 4, and company nudged its...
Last time price was this low was in February 2009. With global growth worries as banks across the globe started to cut rates this summer, oil prices took another blow and stock of Occidental followed. A major level is at $40 where a great risk-reward buying opportunity, if the level holds.
On the technical side, stock is oversold on indicators and waiting for the...
