Occidental Petroleum Corp.: Bullish Bias. ContinuationTo be successful on Wall Street, it is important to be flexible and be able to recognize changing market winds - the patterns that tell investors when to get in and out of the market.
Sometimes a breeze is a warm and inviting wind: assets rise in value, and it seems that everyone is making money.
Other times, it turns into a violent storm, leaving in its wake financial destruction, memories of the past, and hope that better times are yet to come.
Occidental Petroleum Corporation (often abbreviated as Oxy in reference to the symbol and logo) is an American company engaged in hydrocarbon exploration in the United States and the Middle East, as well as petrochemical production in the United States, Canada and Chile.
The oil company, among other Value Investing Assets, has become one of the main beneficiaries of the weakening and reversal of WFH ("Working From Home") disinflationary trends that quickly shook the entire financial world against the backdrop of the Covid-19 pandemic in Q1 2020. But faded also just as quickly, while since the first quarter of 2021, in two years, many growth assets have been undermined, rocked by scandals, or completely destroyed.
It was revealed in March that Warren Buffett's Berkshire Hathaway added more shares to an already large bet on Occidental Petroleum, according to an SEC Form 4 report released on March 7, 2023.
The Buffett conglomerate bought nearly 5.8 million shares of the oil company over multiple trading sessions in March, at prices ranging from $59.85 to $61.90, according to the documents.
Berkshire now owns 200.2 million shares of Occidental, totaling 22.2% of the oil company's shares, up from 21.4% previously.
Occidental shares are currently among the top 10 Berkshire holdings. The energy company outperformed the S&P 500 index last year, more than doubling in price.
In March, Occidental CEO Vicki Hollub said in an interview with CNBC that she met with the 92-year-old investor, noting that they talked about the oil and gas industry and related technologies.
Last August, Berkshire received regulatory approval to buy up to 50% of Occidental, sparking speculation that Berkshire could eventually buy out the entire Occidental company.
Berkshire also owns $10 billion of preferred shares in Occidental and has warrants to buy another 83.9 million shares of common stock for $5 billion, or $59.62 each. The warrants were obtained as part of the company's 2019 deal that helped finance the purchase of Anadarko Occidental.
While many investors even now continue to believe in the crypto-snow that melted without a trace the winter before last, the technical picture indicates the possibility of Growth comtinuation in value investment assets, incl. Occidental Petroleum - after the completion of the 0.618x Fibonacci retrace to the Growth that began later to Russian President "Special Military Operation" announcement in Q1'22.
Also, the support of weekly SMA (200) in CL1! - Crude Oil Futures adds bullish bias to market participants.
Stockmarketanalysis
☄ Natural Gas Futures: This Is Ground Control To Major TomThis publication was partially created by ChatGPT AI, under request to Highlight Ten Factors That Could Drive Natural Gas Prices Below Zero in 2023.
Good or bad, y'all be the judge. But here's what ChatGPT said...
As an AI, I cannot guarantee the accuracy of such statements, but based on common knowledge, the following factors may be the reasons why natural gas prices drop below zero in 2023:
1. Growth in the use of alternative energy sources such as solar and wind energy.
2. Increasing US shale gas production, which will lead to an increase in global supply.
3. Reduced demand for natural gas due to switching to other types of fuel.
4. Increasing natural gas production in highly competitive countries such as Russia and Qatar.
5. The weakening of economic activity in various countries of the world, including China, the US and Europe.
6. Reducing inflation in various countries, which reduces the cost of natural gas.
7. A record increase in natural gas inventories caused by a reduction in demand and an increase in production.
8. Disputes between countries-suppliers and consumers of natural gas, which may lead to a decrease in exports and imports.
9. Increasing competition in the natural gas market from other producers such as Iran and Iraq.
10. Development of new technologies that make it possible to obtain energy from other sources without the use of natural gas.
Technical picture in Natural Gas Futures indicates the biggest YTD decline over the all history of Natural Gas Futures trading since early 1990x.
The main chart is adjusted for futures change All History Chart.
JAT.N0000Falling Wedge Pattern. Wait for a break out in daily chart.
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Negative Real Rates Help Japanese Yen To Further EasingFed officials last week again signaled the U.S. central bank has no pressing need to cut rates. The message gave the dollar an extra tailwind that pushed the yen to a 10-week low as traders reduced bets on how quickly the Bank of Japan (BOJ) might raise rates.
BOJ Governor Kazuo Ueda said on Friday there was a high chance for easy monetary conditions to persist even after the central bank ends its negative interest rate policy, which the market expects to happen as early as next month.
The yen was little changed at 161 per Euro.
Japanese Finance Minister Shunichi Suzuki said he was "watching FX moves carefully," uttering a well-worn phrase for the first time since Jan. 19. Traders were unfazed by the warning.
The next major scheduled U.S. data release is CPI for January on Tuesday.
Traders have all but ruled out a cut at the Fed's next policy meeting in March, versus a chance of 65.9% a month ago, according to CME Group's FedWatch Tool. It shows around a 60% chance of a cut by the Fed at its May meeting.
By the way, short-term so-called 'real interest rates' (difference between BOJ Interest Rate ECONOMICS:JPINTR and Japanese YoY inflation ECONOMICS:JPIRYY ) turned pretty down in 2023 to minus 400 b.p. (45-years lows) - levels that were not seen in Japanese economics since mid-1970s (right hand side).
In this time Japanese, 'a real interest rate' is around minus 270 b.p. and still very far below neutral Zero-level.
💡 The real interest rate is an interest rate that has been adjusted for inflation to reflect the real cost of funds to a borrower and the real yield to a lender or an investor.
💡 The main technical graph (left hand side) indicates on very strong bullish momentum over the past 3 years due to pro-inflation fears, that perhaps will push Fx FX:EURJPY pair further to its main targeted 185-yen level.
💡 30- and 60-day correlations between FX:USDJPY and FX:EURJPY are above +0.70, the two currency pairs tend to move in tandem. A rise in EUR/JPY should also see the cross climb.
WEEKLY BREAKOUT TRADENSE:IBREALEST
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MISHTANN FOODS - 2 YEARS HIGH BREAKOUTCan enter at CMP 23₹
or enter at 21₹
Target - 35.55
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MARSONS LTD - 110% PROFITS GIVEN IN 1 MONTH3 TARGETS COMPLETED
Can enter at 8.70
Average at 7.61 level
Target - 12,15+
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US10Y: Key Moment for Stock MarketHi Trader!
U.S. Treasury yields climbed on Wednesday after an unexpected rise in UK inflation last month and stronger-than-expected U.S. December retail sales data strengthened the case that interest rate cuts will not be as imminent as the market expects. The UK inflation print, as well as more push-back from European Central Bank officials on Wednesday against interest rate cut bets, pushed European bond yields higher. Treasury yields, which move inversely to prices, followed suit, with the uptick gaining momentum after Commerce Department data showing retail sales in December grew by 0.6% month on month, above the 0.4% economists had expected in a poll. Weak demand for a 20-year bond auction also helped lift yields later on Wednesday.
💡 "December retail sales reflect an economy that, although slowing, continues to be underpinned by consumer spending," said Quincy Krosby, chief global strategist for LPL Financial. "For the Federal Reserve, slower consumer demand would help propel inflation to decelerate at a faster pace; however, with consumer confidence gaining momentum, the economic landscape remains on solid ground," she said in a note.
🔴 The short-end of the yield curve, more closely linked to monetary policy expectations, led the move higher. Two-year yields rose about 13 basis points to 4.354%, their biggest daily increase in over a month. Benchmark 10-year yields US10Y added about four basis points to 4.104%, their highest since Dec. 13.
🔴 From a technical perspective, chart shows a bearish impulse structure forming, and this technical bounce could form the second corrective leg (wave 4) before another bearish swing (wave 5). That said, the key resistance is around 4.23, and a rally above it could invalidate the technical structure.
We correctly predicted the surge in inflation last year, but now the geopolitical context has become more complex:
(Click on chart below)
In conclusion, if this analysis is correct, Stock Markets (SP500, Russell, DJ,...) should see another rally with potential new High Top...
Trade with care
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Unveiling MSUMI: Charting Paths to ProsperityEmbark on an insightful journey through the stock landscape of Motherson Sumi Wiring India Ltd (NSE: MSUMI). Our analysis at NEOALGO delves into the intricacies, spotlighting growth opportunities backed by compelling factors.
As we navigate MSUMI's trajectory, notable signals emerge, suggesting a potential upswing. From robust order blocks to strong upward signals and a discernible EMA crossing, the technical indicators align for an optimistic outlook.
However, a prudent approach is essential. NEOALGO is not SEBI registered, and while our analysis provides valuable insights, investors should conduct thorough research. Your profit or loss is your responsibility.
Stay informed, explore the growth potential of MSUMI, and trade strategically with our detailed analysis. 🚀📊 #MSUMI #StockAnalysis #GrowthOpportunities #TradeSmartly
The Hartford. Head & Shoulders Strategy Takeaways the GlenThe Hartford Financial Services Group, Inc., usually known as The Hartford, is a United States-based investment and insurance company. The Hartford is a Fortune 500 company headquartered in its namesake city of Hartford, Connecticut.
It was ranked 160th in Fortune 500 in the year of 2020. The company's earnings are divided between property-and-casualty operations, group benefits and mutual funds.
The Hartford is the 13th-largest property and casualty insurance company in the United States. It sells products primarily through a network of agents and brokers, and has also been the auto and home insurance writer for AARP members for more than 25 years.
The main technical graph illustrates it's been a long 15-years path since The Hartford NYSE:HIG has 24x crashed within the 2007-09 financial crisis before it reached the bottom in 2009 around $ 3 per share, compared with $ 106 per share at the top of 2007.
Following to massive Head & Shoulders structure, mostly above 5yrs SMA, helped The Hartford to recover almost all losses since 2007 , while currently stocks prices are around $ 85 per share - at the highest level over the past 15 years since January, 2008.
In nowadays technical graph says The Hartford is about to break the rules, while strong H&S breakout is happening and can help stocks to achieve new highs in a short future.
AmazonSmile. You shop. And... Amazon Still Gives 😊 Amazon stocks are going up this year with solid 52.29% year-to-date gain, that is currently the 9th largest YTD result over all components of Nasdaq-100 ( NASDAQ:NDX ) index.
Work hard, Have fun, Make history - And You're Done! - This is the official tagline of Amazon in 2023.
The slogan refers to Amazon’s dedication to innovation and service enhancement. As can be seen, Amazon tagline 2023 is separated by three ideologies.
Have Fun
There is a saying that goes You gotta do what you love to love what you do, and I believe it much applies to this ideology – to have fun. The key to having fun at work is creativity and innovation.
Bezos makes room for mistakes, as long as they lead to something positive. You know what they say, learn from your mistakes and be better. To have fun is to think beyond the boundaries with a powerful imagination.
Make History
As of June 22, 2023, Jeff Bezos is the third richest person in the world, with a net worth of $149 billion, according to Bloomberg Billionaire Index data . Amazon proudly contributes to Bezos’ success, being the most successful retailer company in the U.S.A. Despite such accomplishments, the business still strives to develop bigger by the day.
From A To Z
You can still see a smile formed right under Amazon’s logo; it represents the range of products and services available on the platform. The smile also symbolizes consumers’ happiness when they find what they need within just a few clicks.
Of course, in Trader's terms a market smile also means V-shaped recovery, that is currently observed due to massive Reversed Head and Shoulders Chart Pattern structure breakout.
Overall Amazon stocks still are on the positive path, following the All-the-history support of 10-years simple moving average.
📈 CITIGROUP GETS UP TO RECOVER, BREAKS THROUGH MULTI WEEK HIGHSCitigroup stocks hit highest since March 2022, last up 5% as brokerage Morgan Stanley upgrades NYSE:C to "overweight" from "underweight", as well as NYSE:BAC and NYSE:GS to "overweight" from "equal-weight".
Brokerage sees a rebound in capital markets amid growing signs of an imminent rebound in dealmaking. Also expects regulators to ease the Basel III Endgame proposals, a set of rules that will make capital requirements stricter for banks, which have been one of the flashpoints in the industry for months.
Brokerage says the proposals could be eased to be more aligned with Europe so that European banks do not have an unfair advantage.
Any easing of the draft rules will open the door for a significant increase in stock buybacks, as large-cap banks sit on the highest excess capital levels ever - NYSE:MS .
The main technical graph says that NYSE:C shares add +5.25% on Tuesday, break through multi week highs, with possible further recovery to multi year top $80 level.
PCBL BIG MOVE AFTER JULY MONTH BREAKOUT 🚀SUPPLY ZONE BREAKOUT IN JUNE
Entered at 162
Targets - 200,240,280+
ALL 3 TARGETS DONE WITH IN 5 MONTHS ONLY
121 POINTS (75%) RETURNS 🚀💥💰💹
CMP - 251 (on 29th Dec 2023)
Re- entry possible at 240 level... if again falls from 240 level then we need to average at 210 level
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🔍🔧 Microchip Technology (MCHP) Analysis 🌐💻📊 Company Overview:
Microchip Technology, a global developer and manufacturer of smart and secure control solutions.
📉 Current Market Condition:
Navigating a cyclical downturn as acknowledged by its management.
🔄 Temporary Downturn:
Despite challenges, indications suggest Microchip's downturn is temporary.
Expected return to growth in the future.
📈 Historical Profitability:
Demonstrated remarkable ability to maintain high profitability throughout its history.
👥 CEO Perspective:
CEO Ganesh Moorthy anticipates a cycle similar to the rush to buy chips two years ago.
Forecasts an average annual revenue growth of 10% to 15% through fiscal year 2026.
📈 Market Analysis:
Bullish outlook on Microchip Technology (MCHP).
Suggested entry above the $80.00-$81.00 range.
🎯 Upside Target:
Upside target set in the $124.00-$126.00 range.
📣 Conclusion:
Microchip's history of profitability and CEO's confidence in future growth contribute to a positive outlook.
Entry suggestion and upside target align with potential industry rebound.
Stay informed for evolving market trends! 📰💹 #MicrochipTechnology #MCHPAnalysis #MarketWatch 🌐📊
BTC VS NDX. FOLLOWING THE BEARISH SCENARIOPreviously in the Series..
👉 Launch of BTC futures on December 18, 2017
Bitcoin is down more than 10 percent in a week and crashed 80+ percent in a year.
👉 Launch of trading on Coinbase IPO NASDAQ:COIN on April 14, 2021
Bitcoin is down more than 10 percent for the week and crashed 50+ percent for the quarter.
👉 Launch of AMEX:BITO - the first fund based on BTC futures, on October 19, 2021
Bitcoin is down more than 10 percent in a week and crashed 80+ percent in a year.
👉 Launch of ̶G̶i̶p̶s̶y̶ ̶C̶a̶m̶p̶ 11 ETFs on BTC, incl. on BTC spot, on January 11, 2024.
Bitcoin has slumped by more than 10 percent in a week and further losing its shores.
The main technical graph is a ratio between Bitcoin BITSTAMP:BTCUSD and NASDAQ:NDX Nasdaq-100 Index.
Indeed, BTC underperforms against NDX, almost for a 3 years in a row..
But blind faith is ineradicable..
Who knows, what BTC halving has to say..
The truth is One and Only - just trend is your real friend ! 😄
ASHOK LEYLAND | SHORT TERM INVESTMENT Entry Level - 160₹
SL - 130₹
Targets - 190,210,230+
Wait For Entry level
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Stay tuned for daily updates, in-depth market analyses, and real-time trading scenarios to witness firsthand how we transform from Zero to Hero in the trading world. My Only aim is to empower you with the knowledge and skills necessary to navigate the complexities of the financial markets successfully.
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NASDAQ 100 / 1H / TECHNICAL ANALYSIS NASDAQ:NDX I have indicated the completed targets of the ABCD pattern on the chart. Resistance is at 17670, and support is at 16248.
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Buffett is just one step away from skyrocketing to the Moon 🚀Warren Buffett's Berkshire Hathaway just snapped up more Occidental Petroleum shares, pushing the legendary investor's stake in the oil company to just over 25%.
Buffett's conglomerate purchased another 2.1 million shares of Occidental in the past week when the stock traded at $57.89, an amount worth $123 million in total, according to a recent Securities and Exchange Commission filing.
Berkshire now owns 224 million shares of the oil producer worth $13 billion. That represents just over quarter of Occidental's entire value, with a total market cap of $52.56 billion.
Buffett has been vocal about his bullishness on Occidental Petroleum, snapping up big chunks of the stock over the past year as oil and natural gas prices skyrocketed in the aftermath of Russia - Ukraine tensions.
And though Buffett has said he has no interest in taking over Occidental, Berkshire gained approval from regulators to potentially own up to 50% of the company last August.
Energy prices, meanwhile, have eased from their highs last summer, but analysts have said prices are in for another surge later in the year, especially if China's economic reopening leads to a big upswing in oil demand.
Moreover El Niño is here. Commodity prices could swing in turmoil.
👋 Alphabet Inc (Google) — Bear Trap EscapeAmerican company Alphabet Inc. two days before has published a quartrely statement and announced an increase in net profit and revenue in the second quarter ended in June.
In addition, the company said its chief financial officer, Ruth Porat, will take over as president and chief investment officer of Alphabet and Google from September 1, 2023.
At the same time, Porat will temporarily remain as CFO of Alphabet and Google until her successor is found.
The company reported net income of $18.4 billion, or $1.44 per share, compared to $16 billion, or $1.21 per share, a year earlier.
Revenue, meanwhile, rose from $69.7 billion a year earlier to $74.6 billion, also above the market's forecast of $62.06 billion. Cloud revenue was up 28% year-over-year.
Comments by Sundar Pichai, CEO of Alphabet and Google:
“Our products and company performed well this quarter. Our continued leadership in artificial intelligence and our excellence in engineering and innovation are driving the next evolution of Search and improving all of our services.
With 15 products serving half a billion people each, and 6 of them serving more than two billion people, we have a lot of opportunities.”
Comments by Ruth Porat, Chief Financial Officer of Alphabet and Google:
“Our financial results reflect continued resilience in search with accelerating revenue growth in both search and YouTube, as well as momentum in the cloud.
We continue to invest for growth while prioritizing our efforts to long-term reorganize our company-wide cost base and build the capacity to deliver sustainable value over the long term.”
As announced on April 20, 2023, the Company has merged part of Google Research (the Brain team) and DeepMind to significantly accelerate advances in artificial intelligence (AI).
A group called Google DeepMind is reflected in Alphabet's unallocated corporate expenses starting in the second quarter of 2023.
Shares of Google rose more than 6 percent in premarket trading on Wednesday, with a lot of room for further gains.
Technical pictures indicates that major breakout of $125 resistance is happening right now, hitching the price above the neckline in reversed Head and Shoulders chart pattern structure.