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OXY

TRUMP, THE MAESTRO, RUNS UP THE STOCK MARKETTo gain an edge, this is what you need to know now. Trump The Maestro Trump, the maestro, successfully ran up the stock market over 500 Dow points by apparently giving the wrong information and media proudly touting it. Trump stated that Saudi and Russia had reached an agreement to cut oil production by 15 million barrels a day. This caused oil to spike up by over 30%. There is often a strong correlation between oil and stocks. As oil spiked, stocks followed. Russia says there is no such agreement. Saudi says that even 10 million barrel cut is an extreme exaggeration. The same media that was highly touting what Trump said is mostly silent on denials from Russia and Saudi Arabia. Those investors who do not have great sources have continued to buy oil and stocks based on media touting oblivious to the denials by Saudi and Russia. Smart Money And Momo Crowd The momo crowd has been aggressively buying stocks since yesterday morning and extremely aggressively bought stocks on Trump's statement touted by the media. Smart money has been selling stocks on up spikes and slamming momo hard.
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by sickgains
$OXY An Oversold Risk/Reward Play$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!
NYSE:OXYLong
by InsiderFinancial
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
NYSE:OXYLong
by Christian-Georgi
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.
NYSE:OXY
by NickWA
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. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NYSE:OXYShort
by InvestingScope
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!
NYSE:OXY
by Antonio_trader
4
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. If you enjoyed this analysis, and/or like cookies, be sure to give me a thumbs up and follow for more content. (:
NYSE:OXYLong
by CookieMonsta
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.
TVC:USOILLong
by IvanLabrie
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...
NYSE:MPC
by nodiggity
1