OXY (SHORT) short term tradeI would like OXY to test the resistance line at $10.10, if it breaks we could potentially see a new low or expect a bounce at the green line.
The oil trade war will only make oil barrel prices drop, currently around $20!
OXY
$OXY An Oversold Risk/Reward Play$OXY has caught our attention as it is bouncing off trendline support. Today the company put our an operational update.
Occidental Petroleum Corporation (NYSE: OXY) announced today a further reduction in 2020 capital spending to between $2.7 billion and $2.9 billion from its original 2020 guidance of $5.2 billion to $5.4 billion, a midpoint reduction of 47 percent. At current commodity prices, 2020 annual production from continuing operations is expected to be 1,275,000 to 1,305,000 BOEPD, a reduction of 6 percent compared to prior guidance of 1,360,000 to 1,390,000 BOEPD.
The Company also announced it will reduce 2020 operating and corporate costs by at least $600 million compared to the original 2020 plan, including significant salary reductions for executive leadership. These cost reductions are in addition to previously announced operating and overhead synergies of $1.1 billion that are expected to be fully realized in 2020. The combination of synergy realizations and additional cost reductions is expected to reduce SG&A, Other Operating Expense, and Exploration Overhead to approximately $500 million on a future quarterly run-rate basis. Operating cost reductions are expected to lower 2020 domestic operating costs to approximately $7.00 per BOE.
"We are making solid progress with additional cost reductions to help withstand the low commodity price environment and other macroeconomic pressures impacting our industry and the global economy," said President and Chief Executive Officer Vicki Hollub. "Based on our team's recent efforts, we now expect to significantly lower our costs in all aspects of the business. We will continue to take actions as necessary to further strengthen our balance sheet and ensure the long-term viability of our business."
As always, trade with caution and good luck to all!
uncle warren <3warren buffet is just smarter than us. why not join him for the ride?
if it gets 233 its at 240
apple
amzn
oxy
some companies that are showing incredible strength where uncle warren has serious positions.
also $xtn (spdr transportation etf) showing some moxy as well
in which uncle warren has a great stake in transpo stocks.
Excellent potential, deeply undervaluedExcellent potential, deeply undervalued. It's an excellent value bet to take.
It has a 8.17% current dividend yield.
Target for six month period — $60.
TESLA? No! OXY? Yes!
OXY / Long Term Long Position!Extended my Energy Portfolio with Occidental Petroleum Corp shares.
Fundamental:
I will stick to my opinion and investment strategie by adding this asset to my list.
I personally think that nearly every energy-related stock is trading unter it's actual value .
Revenue in 2019:
Q2: 8543 mio USD
Q3: 5743 mio. USD
Profit both positive minus nearly the same costs.
Technical:
Support: 38.500
RSI(14) 61,443 BUY
STOCH(9,6) 67,992 BUY
STOCHRSI(14) 78,901 Overought
MACD(12,26) 0,190 BUY
ADX(14) 29,425 BUY
Williams %R -22,727 BUY
CCI(14) 117,1167 BUY
ATR(14) 0,2536 low volatility
Highs/Lows(14) 0,1743 BUY
Ultimate Oscillator 56,784 BUY
ROC 1,331 BUY
Bull/Bear Power(13) 0,5600 BUY
OXY good risk to reward tradeDivergence all over the place, on some support from a decade or so ago, holding some mid January contracts
Neutral on OXY, but intriguedAs 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 storylines at play with OXY, but insiders have been buying, Berkshire's been buying, and most analysts' price targets are well above where the share price is now.
I'm intrigued.
[insert $oxy pun]11/08/19 47 C 100 basis .32$.
11/15/19 51 C 100 basis .18$.
Plotted out every gap fill with ranges and levels.
May the best bettor win.
Occidental Petroleum finally breaksThe 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 trend line testingLooking to add more longs on the break of the line. And still holding longs from $40 level.
Good Luck!
Occidental Petroleum: Short opportunity on the Falling Wedge.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.
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Occidental Petroleum finally at supportPrice 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 estimate for third-quarter production higher on Tuesday.
Based on price targets from other banks and investment funds, it is very oversold and expectations are to go up.
Good Luck!
New Trade1027.co.za Alert Occidental Petroleum (OXY)"Energy-stock valuations have come down this year and are below their long-term average. And many industry players are responding to investor pressure to rein in capital spending, curb supply, boost returns, and pay out more to shareholders in dividends and stock repurchases," Andrew Barry.
Short-term trading opportunity on OXY.
OXY downward channel into Major SupportOXY is currently in a long term downward channel and testing the bottom of it. The severe decline in price over the last few years is plummeting OXY into MAJOR support. This confluences with the downward channel, and we are likely (in my opinion) to see a trend change soon to test the top of the downward channel as long as the support holds. OXY, as well as all petroleum companies, is currently battling with gas and oil prices which are handicapping it severely. This idea is very subject to becoming invalidated due to fundamentals with that said, as well as OXY has just dug themselves into even more debt with a $37 Billion purchase in attempts to expand. Hopefully their efforts pay off, and don't send their stock prices into a death spiral, because breaking this major support would be very BEARISH for OXY shareholders.
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OXY Petroleum BULL Q1-Q2 2020 Probability If CUP AND HANDLE condition met, expect BULLish Pattern after beginning of 2020 !!
First Published IDEA!!
OCCIDENTAL PETROLEUM CORP. (NYSE:OXY)-D1 - BEARISH SHARK PTTRN.* Bearish Shark Pattern
* Some indicators are looking bearish on D1.
ARK suppression possibly at an endARK has had healthy natural growth until the OXYcoin ICO started and price was being driven down to reduce payouts
www.reddit.com
The drive ends in roughly 17 hours at which time ARK could possibly be freed and I think there could be a pretty big climb.
USOIL: Hold longs, long term uptrend signal triggeredThe oil uptrend signal finally triggered here, after OPEC agreed to cut production accross the board today. As more details come out, we might see some kind of pullback, or not, but it's clear we have to hold our long positions for as long as possible. I'm trading the swings in the short term using $UCO, and aiming to capture the longer term trend with my $OXY and $TSLA holdings, as well as the CFD/Futures positions. Those might need to be managed more actively, taking profits, reentering, adding, trailing stops, due to short term volatility, rollovers, etc., but for now, I'm holding.
Good luck,
Ivan Labrie.
HIGH VOL: KEEP WATCHING!!!Look guys, this is the same Fib retracement that has HELD since the Jan-Feb selloff. Do not take my word for it. Look at my previous predictions, load the new data, and see how much money was made.
MPC has had a history of bucking the market. When SPX was down 2%, this was down 7%. When SPX was up 3%, this was up over 8.5%. This is a lower liquidity, higher volatility play.
I am NEUTRAL on MPC. To be honest, I've put no money into for a long time. Money could have been made straddling the 2nd fib level, but the reaction to Brexit (not the market reaction to Brexit itself) has caused everybody to look at everything closer, and rightly so.)
Here's what we know: MPC is range-bound in the 2nd fib level. We also know it's good for a 8% pop or drop in a one session. Is that within your risk tolerance?? It's not within mine.
Conclusion: IF YOU DO NOT HAVE TO TRADE, DO NOT TRADE. I honestly would not look at this stock until after earnings (July 28th). That will give the market plenty of time to digest new capital inflows from stock buy-backs, and allow for a reaction that may be based on technicals vs. fundamentals.
There is money to be made, but patience is a virtue. If you see something I don't?....Please share! I need to eat too...
RSI BOX on OXY, leave the box and price plummetsjust watch out for fake outs. I fell for the last one a few weeks ago, right after i posted the same idea. I fixed the boxes so they are more accurate now. I'll link my old idea if you want but you don't have to bother, this is the same one, but better.
RSI 55 level constantly providing sell signalsNotice every time 55 breaks, there's a long down trend in the RSI to somewhere around 32. It's obvious that this is going to happen again, because the downtrend has already been developing for the last several days.
