Symmetrical TriangleEarnings 11-7. Neutral pattern until broken. No recommendation,by lauraleaPublished 441
$OXY Looking For Fibonacci SupportTechnical Analysis Description: NYSE:OXY Seeking Fibonacci Support at 0.618 Level, Specifically at $60.39 Occidental Petroleum Corporation ( NYSE:OXY ) is currently at a critical juncture on its price chart as it seeks potential support at the 0.618 Fibonacci retracement level, which corresponds to a specific price of $60.39. This level is significant in technical analysis and may influence the future price movement of $OXY. 1. **Fibonacci Retracement:** Fibonacci retracement levels are key areas on a price chart derived from the Fibonacci sequence. The 0.618 level, often referred to as the "Golden Ratio," is a crucial retracement level. It's used by traders and analysts to identify potential support or resistance zones where price reversals or significant price reactions can occur. 2. **$60.39 Price Level:** In the case of NYSE:OXY , the $60.39 price level corresponds to the 0.618 Fibonacci retracement level. This means that if the stock's price reaches this level, it could potentially find support, as this level is considered significant by traders and investors. 3. **Seeking Support:** When a stock approaches a Fibonacci retracement level, traders watch closely for signs of support. This means that buying interest may increase as the price approaches or reaches $60.39, potentially leading to a bounce or reversal. 4. **Potential Reversal:** Finding support at the 0.618 Fibonacci level could suggest that NYSE:OXY is poised for a potential upward reversal. Traders often use this as an entry point for long positions, anticipating a bullish move from this level. 5. **Confirmation and Caution:** While Fibonacci retracement levels can be valuable tools, it's essential to exercise caution and look for additional confirmation, such as candlestick patterns or other technical indicators, before making trading decisions based solely on this level. 6. **Risk Management:** Traders should always implement proper risk management strategies, including setting stop-loss orders, to protect their positions in case the stock's price doesn't behave as expected after reaching the 0.618 Fibonacci support level. In conclusion, Occidental Petroleum Corporation ( NYSE:OXY ) is currently approaching a crucial technical level at $60.39, which corresponds to the 0.618 Fibonacci retracement level. Traders and investors are closely monitoring this level for potential support, which could lead to a price reversal. However, it's essential to consider additional technical factors and employ effective risk management when trading or investing in NYSE:OXY or any other asset.Longby AlgoTradeAlertPublished 1
OXY : Booked profitThe stock has been experiencing a period of consolidation with a ranging price action for some time. Simultaneously, the entire US market appears to be at risk of a significant sell-off. Given this situation, it is prudent to maintain some cash positions. Therefore, the most logical course of action at this point is to sell stocks that are nearing their target levels. In the case of OXY, it is currently at a critical juncture, considering the parallel channel within which it has been trading. Consequently, we have decided to close our position in this stock. Should the price retrace back to the lower boundary of the channel, we will evaluate the possibility of re-entering the position, taking into account the overall sentiment in the market. At present, we have realized a profit of 11.15% in this particular stock.Shortby Sniper-TradersPublished 3
OXYWas bearish this name last year & earlier this year but looks like this will ultimately be resolving higher. Buffett has been buying below $60. I like $85 Jan 25 calls here. Wouldn't be surprised if it gets there this year if this month closes above last month's high.Longby EssendyPublished 1
Occidental Petroleum Stock Finds Support at Fibonacci RetracemenOccidental Petroleum Corporation (OXY) is a leading oil and gas company that operates in the United States and internationally. The company's stock has been performing well in recent months, with the price rising from a low of $59.51 in early May to a high of $75.50 in late May. One way to analyze the stock's price movements is by using the Fibonacci retracement tool. This technical analysis tool is based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the two previous numbers. The most commonly used Fibonacci retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6% . On the OXY chart, the Fibonacci retracement levels are drawn from the recent high of $75.50 to the recent low of $59.51. The 38.2% retracement level is at $64.17, which is the current price of OXY stock. This suggests that the stock is finding support at this level. If the stock breaks below this level, it could fall to the next Fibonacci retracement level at $62.50. If the stock can break above the 38.2% retracement level, it could continue to rise to the next Fibonacci retracement level at $65.00. A break above this level would be bullish for OXY stock. It is important to note that Fibonacci retracement levels are not perfect predictors of future price movements. However, they can be useful tools for identifying potential support and resistance levels. Investors and traders can use this information to make informed decisions about buying or selling the stock. In addition to technical analysis, it is also important to consider fundamental analysis when evaluating a stock. This includes looking at the company's financial statements, such as its income statement, balance sheet, and cash flow statement, as well as its industry trends and competitive landscape. By combining technical and fundamental analysis, investors and traders can make more informed decisions about their investments. Conclusion: Overall, the Fibonacci retracement tool can be a useful tool for analyzing stock price movements. While it is not a perfect predictor, it can provide valuable insights into potential support and resistance levels. By combining technical and fundamental analysis, investors and traders can make more informed decisions about their investments.by stocktechbotPublished 2
Occidental Petroleum formed 2 strong bullish patternsIn the last few months we've seen two bullish formations. W Formation first and recently a Cup & handle. The price has broken above the neckline and brim level, and now the price seems to be retracing to a conservative level of entry. With the higher lows and clear signs of demand, it looks like this market is poised for growth. 7>21>200 RSI>50 - Higher lows Target $80Longby TimonrossoPublished 6
Occidental Petroleum: The Bulls are back! 🐂In the Occidental Petroleum chart, bulls have displayed renewed strength since early September, which needs to be sustained. The turquoise wave B is expected to reach higher, stopping just shy of the $77.13 resistance level. Following this peak, substantial declines are anticipated, potentially dropping below $54.35. Should the price manage to break above the resistance, though we deem it only 34% likely, it would overshoot the turquoise wave alt.B. However, this doesn't alter the bearish outlook that follows.Longby MarketIntelPublished 2
Maybe Higher Nice little 9 month base. Hitting previous resistance levels. Time to hit those all time highs again????Longby ryan1wtrdPublished 0
$OXY - Rising Trend Channel🔹Breakout resistance at 65.90, indicating a potential further rise, and potential support at 65.90 in case of NEGATIVE reactions. 🔹POSITIVE volume balance indicates higher volume on rising days. 🔹The RSI curve indicates a positive trend, indicating a rising trend. 🔹Technically POSITIVE for the short term. Chart Pattern: ◦ DT: Double Top | BEARISH | 🔴 ◦ DB: Double Bottom | BULLISH | 🟢 ◦ HNS: Head & Shoulder | BEARISH | 🔴 ◦ REC: Rectangle | 🔵 ◦ iHNS: inverse head & Shoulder | BULLISH | 🟢 Verify it first and believe later. WavePoint ❤️Longby wavepoint99Published 1
Break of rising wedge with bearish divergences forming. Back to support I think... It was a good attempted breakout, maybe another time. I do think we reach a point of absolute scarcity due to lack of investment in a rising interest rate environment... Just putting on my tinfoil hat... it will be after the election.Shortby MikeMMUpdated 112
$OXY Long-Term OutlookIt appears that the market is starting to coil and could see future downward pressure. Oil will follow temporarily but I believe contains a geo-political risk that could see prices skyrocketing in the near to mid-term. Because of this belief, I would long NYSE:OXY due to Berkshire Hathaway backing and government subsidies for carbon capture. Longby KuomingtangCapitalPublished 0
Rotation out of tech into energySure tech can have another couple % up as the rotation is underway, but this chart looks quite convincing to me especially with the weekly bullish div on the macd. Then we have a bullish engulfing weekly candle... Atop of that, last week Cramer said this oil rally should be faded. Buffet has been buying (oxy). Although he is not an immediate reversal signal, it shows that the valuation of these companies is at a good area in his eyes. I would love a small pullback tomorrow but I am not sure we get that. The entry now is not bad, the stoploss would be below the channel which is only 5% loss ish, for an implied 30+% move up.Longby MikeMMUpdated 4415
OXYWe've been long on OXY since the 56-57 support. Already up nicely but I think this one can run more. You can always DM me for anything trading related !! Longby tslatradesPublished 1
Still bullish on Crude & OXYIm going to try and post this a THIRD time now, as you can see from the first post on June 26th & June 28th. Apparently you cant utilize the Twitter post feature on charts because its solicitation or advertisement, even though im just using the timestamps to show I actually called it publicly like I am stating here. ========================================================== "Ive been looking at AMEX:XLE and NYMEX:CL1! lately and becoming more bullish for multiple reasons, specifically on NYSE:OXY OPEC supply cuts and Geopolitical tensions with BRICS nations could cause supply uncertainty The US Strategic Petroleum Reserve's have been drained Tech exhaustion is setting in and I believe buyers will rotate into Energy Trading well after breaking $70/bbl WTI 50DMA is $73.45 CTA flows are skewed to the upside OXY 52w low 55.51 - 52w high 77.13 (todays open - 56.15) price-to-sales ratio in 2016 was 5.5 and is currently 1.54 now Berkshire keeps buying more and now owns 24.97% of OXY So my thesis is a mixture of macro, fundamental and technical indications. The risk-to-reward ratio was there for me so I went long at 1030am on the pullback 6/26/23 and add more on 6/27/23 on the big pullback. XLE was the leading sector by a mile today. It needs to clear 58 and 58.75 for a continuation higher. The chart below illustrates all the timed purchases by Birkshire(Warren Buffet) and the amount of money in each order. As you can see, he buys around the same exact levels for the past year." ========================================================== NYSE:OXY is currently sitting at 62.66, up roughly 11.6% since my original post 28days ago. NYMEX:CL1! made a high of 79.28 today, up roughly 15.38% since my original post 28 days ago. I believe it will be a slow grind from here to 82, but that break upwards needs to happen for continuation. I maintain my thesis on Crude and the rising tension in the GeoPolitical climate and how it will affect its price. The Saudis maintain their resolve to lessen production in accordance with OPEC. I have theories relating to this one on a potential good trading setup which I will post later. That is all for now. Longby d3f4ultPublished 3
occidental petroleum is ready to jump occidental petroleum is forming triangle or diametric pattern , What is clear is that wave B is almost over and wave C may have $100 target Longby ManS-InvestingPublished 9
use 60c expired on 08/18 to trade its earningTipRanks: Based on 13 Wall Street analysts offering 12 month price targets for Occidental Petroleum in the last 3 months. The average price target is $70.92 with a high forecast of $82.00 and a low forecast of $62.00. The average price target represents a 21.00% change from the last price of $58.61. Expected Move: +/- $1.5 ATR: $1.2 My bullish price target: $62Longby KhanhC.HoangPublished 331
$Oxy Oily Boiiis Back?NYSE:OXY im seeing a triple bottom/ distribution. Im bullish just bc of the chart. I think the R/R on a swing position targeting mid to upper 60s is great over 58. oil doesnt nornally move fast, so likely guna need time to eat on this. however, we have a sharp reversal so the momentum could continue from the big bounce today.Longby Scoot_2949Published 114
OXY breakdown is clearJust over 6 months ago, OXY was flagged to technically not do the expected rally as it broke down of the H&S shoulder. Many had bought in following the reported Berkshire's purchases of OXY , BUT technicals was telling of another type of scenario. Watching the breakdown was rather painful as it stretched over the last 6 months, with a recovery attempt that failed the shoulder line the second time, as if not clear enough. Finally, this week closed below the channel trendline (adjusted from previous analyses). Furthermore, this is the 52 week second lowest weekly close... good enough to tell that it will be the 52 week lowest close soon. Technicals are bearish, not very but clearly. Therefore, more downside is expected up till October and looking at a target of 50. The bearish marubozu may be indicating the rather strong downward momentum too. Point here is that it was clear and heads up given 6 months earlier. Now, we take delivery. Also note that the USD appears to be strengthening (a lot?) and this can push the breakdown further and faster. The overall equity markets are overbought, and if it is time for a retracement, then OXY can be affected further. Heads up... again. Shortby AuguraltraderPublished 2
$OXY bullish above the horizontal lineMr. Buffet keeps buying NYSE:OXY but a closes below the weekly horizontal line and the next support is the 200 weekly moving average. Longby AlgoTradeAlertPublished 4
Inside and UP for $OXYCan NYSE:OXY take out both pivots on the 2 Day chart? Would be a nice inside and Up as per #TheStrat Longby RobinsOptionsUpdated 0
$OXYNYSE:OXY Looking good for longs her eon the support trend line, trying to get above anchored vwap. stop loss: any strong close below 57.97$. Longby AquilaTradingPublished 1
OXY: Buy ideaBuy idea on OXY as you see on the chart because we have a good spring effect on Vwap indicator.Thanks!Longby PAZINI19Published 2
look for buys on the pull backHello, Look for buys on this stock once you see a pull back. Buying at the current levels does not make sense to me since the risk to reward ratio will not be great. I will be looking for buys from 53 areas with the top as the target. Best regards, The shark keLongby thesharkkeUpdated 2