It appears that there has been a breakout of resistance at the level of 61.88 in the price of the stock of OXY.
This breakout could potentially lead to a continuation of the upward trend in the price, with a possible target
of 66.46. On the downside, there is a support level at 60.47, which could act as a barrier to further declines
in the price. Overall, it...
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It met with its resistance at 68.24 price level but I believe this will soon be taken out and the price action will pierce through it. The overall high Oil price is definitely helping companies like OXY and others as well.
For those who are core...
A channel down is a channel down until broken.
This happens a lot as of late but seems many only make it the next strong resistance level.
There is a lot of R overhead. Buffett bought more of
this again I hear.
There is an old rising wedge that has not been broken yet so it is not valid. If this wedge is broken it could take price under 30.
No...
Management has been aggressively buying back shares
Strong earnings should allow management to continue dividend payments
Cash flows can sufficiently cover interest payments
Prominent player in the Oil, Gas & Consumable Fuels industry
Barclays analyst raised the price target on Occidental Petroleum (NYSE:OXY) to $78.00 (from $70.00) while maintaining a Overweight rating.
On OXY we have two situations. Firstly we would have an uptrend if and only if the resistance line is forcefully broken by a large green candle and accompanied by large green volume. Secondly, we would have a bearish trend if the vwap indicator as well as the support line are forcefully broken by a large red candle and followed by a large red volume.Thanks!
I can definitely appreciate the balance zone it created over the last 7 days or so..now price is looking for acceptance over $59, doing so can really get this going..
Previously, posted about the head and shoulders (potential) breakdown of OXY, based on the technicals. Thereafter, there was a weak attempt to recover above the 23EMA, and it faked out. Yes, for a couple of weeks, it did look like a wrong analysis, wrong call, etc. BUT the point is not about being right nor wrong, but being able to read and read it well. For this...
$OXY $XLE Oracle of Omaha favorite setting up for a gap fill. Thing energy has potential for upside if recession fears continue to diminish, also hedge for war escalations.
OIL
Brent oil prices fell during early Wednesday trading. Expectations within the financial markets have been shifting to accommodate the resilience of the US economy and stubbornly sticky inflation, resulting in an outlook that now assumes the Federal Reserve will hike rates further than previously thought. This scenario, of a hawkish Fed causing a hard landing...
OXY, warren's darling has formed a bullish harami/dragonfly doji and is rebounding at the key demand zone. Hence, I would be heading for a buy at different levels. First target resistance will be at 66.33
NYSE:OXY - Elliott wave Analysis
Warren Buffet bought OXY in Q1,Q2 and Q3 of 2022. We can't all be Buffets but a a good setup might be in place right now.
A clear upward impulse wave starting in October 2020, with an extended third wave that reached its peak on May 31, 2022.
Since then, we have been witnessing a period of consolidation in the form of a...
price boucning off support
expire right before earnings
going for credit spread as risk of non volatile period to earnings
- reminder to self
- check volume, spread and open interest of options
- check major news event
- check support and resist lvl and its reaction
Oil and gas producers like Occidental Petroleum began 2022 with a bang, but this year has been just the opposite. (TradeStation data shows energy is the only major sector to fall in the last three months as crude languishes.)
The first pattern on today’s chart of OXY is the 50-day simple moving average (SMA) slipping beneath the 200-day SMA on Friday. That “death...
$OXY about to Death Cross for the 1st time since 11/2018 and approaching the bottom of uptrend that's been holding since 3/2022
Calls over $64.02, $65.96
Target $64.54
Puts under $61
Target $60.75, $59.73
Running Low On OXY?
I believe we will be "running low on oxy" over the next few days or weeks.
A head and shoulders pattern was identified on the daily in confluence with 2 rising support trendlines. OXY broke below the neckline of the head and shoulders pattern on Friday, February 3, 2023. Furthermore, the daily chart shows an increase of sellers at the break...
