$OXY Breakout with Target 63,60$$OXY with a nice #HeikinAshiRangeBreakout and reclaim of lower band of vwap - short term target 63,60
OXY trade ideas
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OXY FlagAnother one flagging that I am watching to the upside.,
Could easily see $78.50
It has to break $64 resistance though
OXY - A move above the high should start a new rallyLooking for this one to go to 78$ at first.
Positive earnings last few quarters and good looking volume pattern indicate a potential breakout is imminent.
The wave count suggests we are finishing a wave 4 of higher degree wave iii.
OXY - could break out of consolidation soon?After trading up strongly in late February, OXY went into consolidation for the past 6 weeks, forming a right angle wedge. It is now looking like a breakout to the upside is near.
If and when it does start closing above 62.50, i will be looking at targets of around 72 (wedge breakup target) to 77 (a prior high way back in June 2018).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
$OXY Power Play SetupPotential Hight Tight Flag #PowerPlay on $OXY with mini coil
One of the oil names on primary watch list for next week.
OXY getting tight. . .................................................................................................................
Can $OXY Continue To Breakout?$OXY has broken out several times and went on a nice run-up due to the in-demand sector it's a part of. I'm still seeing lots of indicators that led me to believe it can keep running with the strength it has. If it breaks over the $63 level then there will be more upside for $OXY.
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OxyManaged to break back into my support. So cme in as a fake breakdown starting. This could turn bullish since it’s so tight in between support and resiatnce. I still see a long term risinf brodenig wedge but if we pop and hold 58s I’ll be watching 60s and high of 68 or old high. It was looong bearish Howver that drop could still turn into a double bottom as we found support at previous low range. I’m still not convinced but I’ll flip my bias short term if this starts pickup steer. I did get stopped out of a few contracts I opened at 57.40s. In profits. Got a few more I may stop out if we close above 58s
Oxy So far the short is working out beautifully I ended up adding on the little pop we got this morning. We can see that we have now broken down from that 5550 area. The target of this is the bottom of this whole channel, but nothing go straight down. The first support area that I would be watching is the 54.53. That was an area that we saw a WIC recently that pushed us back up and buyers may sit there hoping for a bottom. If we get a bounce there most likely it will come back up in retest the breakdown of the pattern and another great opportunity to short. If it can’t break back above 56 of course, adding more to your short there would be smart. The next targeted move down would be roughly the $51-$50 range. And obviously if that was to be lost, we could see much lower prices but this could take a month to play out. So if you’re buying puts, make sure you’re giving yourself enough time for price action to set up for more Barash moves
Oxy Next one to break down I. Oil sector. Us oil started the trend oxy about to follow. Look for a break of 55.40 and confirmed break down ! Target to start is 50.80
Occidental has strong resistance at $ 80Occidental has strong resistance at $ 80.
According to Fibonacci it's in uptrend. We can reach the $ 80 resistance in my opinion.
OXY - ready to breakdownOXY’s negative RSI divergence in the overbought zone has now been followed up with a confirmatory PPO sell signal. A drop to 47-50 area looks likely.
Recap: 3/24 OXYStrat play 4/2 57p
Setup: 1-2-2 bearish revstrat
Theoretical gain: 1.13->1.74
Wide spreads at open + market chop, didn't enter.
Occidental Petroleum (NYSE: $OXY) Boost By Berkshire Hathaway!🛢Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
OXY OPTION IDEADue to it being both pre market and in an ascending triangle pattern OXY could go either way. I'm trying a different strategy and playing the break out that could lead it in either direction. Purple indicating price targets and teal to green are designated entry lines pending on which way price swings. Good luck everyone this week.
OXY Found its ResistanceOn daily charts, OXY found its resistance around $59, and volume is decreasing. So we could see stock price will pull down around $42.
OXY zoomed through impt Fib levels; see all take profit zonesSupply of commodities like oil, natural gas & wheat will be greatly affected by the Russian-Ukraine war.
OXY shows the strongest gain among oil stocks. Notice the different target Fibo levels to determine the poyential support & resistance zones to buy or take profits.
RSI oversold so it may retrace a little before a run to the next level.
Not trading advice
This is a great time to buy oil ! Trump saysPardon me, but I am not going to care what President Trump says.
Regardless of equities, commodities , currencies or indices, it works on a simple equation. That is demand and supply.
We already know from various sources that Oil supply now is exorbitant and demand is sorely lacking. Think less air flight ,cruises , coaches, cars, trains , etc that are adversely affected by Covid-19. The more the cities remain lockdown and less people get out to drive, the less demand it is for Oil.
So when demand is less than supply, price drop naturally.
Many may have known that OXY is one stock owned by Warren Buffett. Though the stock has tanked badly, he is still collecting his 8% dividend from OXY. He is a very smart investor unlike activist Carl Icahn. He increased his stake in OXY and is adamant to change the entire board.
Read article here
At current price, it is too late to short (peak in 2018 was 88, 2019 was 48) and definitely not a buy for me even some analysts are saying to go contrarian.
When in doubt, stay away.....
OXY - Onde di elliotPossibile inizio correzione semplice, target a 44 target b 38.
Considerare correlazione con oil.
Solo la mia idea.
Ciao
