OXY trade ideas
going to try for $17.80 resistance one more timeAnd yes i know about oil demand and and soon many rumors about bankcruptcy but stilllll there is room
!!!!! Disclaimer: I’m not: a certified financial planner/adviser, a certified financial analyst or even an economist. i am just doing this for fun and not giving any advices !!!!!
OXY/USD 24/04/20 Breakout?OXY/USD 24/04/20 Breakout?
Let me know what your thoughts are about OXY.
Please do not take this as any kind of advice and always trade on your own risk.
OXY "SHORT"I have been pretty trash with oil trades.. but this time I believe oxy will reach new all-time lows.
There is much uncertainty from investors which makes this a perfect short IMO, I have a 5/8 buy put... didn't short at $17 simply cause I was at a huge loss from some other trade (not enough capital.)
I think we will revisit $12 by today and continue to make lower highs throughout the week. This won't stop Donnie Pump from tweeting but there isn't much more he can do right now. The oil cuts aren't enough to ignore the fact we will run out of storage.
Good Luck!
OXY- A Bullish Trade in an overall Bearish Trend As oil dumped pre market today, I decided to check out OXY
I drew the trend lines and I was happy to see a nice demand zone that was in play for a buy.
I placed orders in premarket for $12.15, $12.15, $12.11, $12.10, and $11.97 (all filled)
I am seeing this as a bullish trade in the short term just following its journey up to resistance.
The big picture bearish pattern is a rising wedge that may morph into a larger bearish
I will exit this trade if my cost basis starts to be of question
Good luck traders!
OXY bullish setup ahead!Mad volume quantity the last six weeks for this one. Reaching it´s bottom at $9, these company has gotten the attention of a lot of investors. At long term any buy below $20 is a steal for this stock.
Yesterday, when the stock went above $12.60, the 5 min bearish trend got broken and closing around $13.60 the bullish setup has a high probability of continue.
I identified the upcoming resistance points at 13.66, 14.70, 15.86, 16.86 and 18.00.
A pullback may be expected for the next week so we have to be cautious if it breaks down 12.30 which is the current bottom of the uptrend channel. Buffet bought shares at a price average of 11.57 so this would be the "Buffet Support", if the price breaks the support we might be seeing 10.50-9.00 range again
Trade Idea:
- Long position at 13.75
- SL: 12.20 (Uptredn Channel break confirmation)
- TP: 18.50 - 19.00
If you swing trade you might want to close and open positions around the resistance/supports.
Occidental Petroleum upside targetsOccidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, natural gas liquids, natural gas, carbon dioxide, and power. The company was founded in 1920 and is headquartered in Houston, TX.
04/17/2020 day trade $13Call 0.15 acurrent position: 04/17/2020 13C at $.015 quantity (10)
current position: 10 shares at 15.51
basically 13.10 is the resistance, i would be amazed if it crosses that.
Lets create some resistance and support levels for reference:
supports: 12.30, 11.76, 11.26, 10.80. anything bellow that, it would be bellow the previous higher lows mentioned bellow. Basically if tomorrow 04/17/2020 it goes bellow 10.80. that would be the ultimate stop loss for me 04/17/2020 13C at $.015 quantity (10)
resistances: 13.10 (ema and tirone said so), 13.50, 14.
NOTE: right now, we are creating a higher low. The previous higher lows were: 04/01/2020 at $10.13, and then a lower low was 03/18/2020 at $8.89. I am suspecting that the lower low has already been formed today 04/16/2020 at $12.18. I would not be surprised at all if it does maintain the after hours price at 13.10 and open around there tomorrow. and create a gap up.
Today, the market was absolutely crazy, all stocks that were going up, continued up: tesla, facebook, spy, after hours, they gapped up. oxy, gapped up as well! it was crazy!
Long OXY DailyOXY have clearly felt the effect of the cut in oil prices as well with the Corona virus. OXY has broken the short term trendline on the daily chart.
Target 1 : $20
Target 2 : $38
Target 3 : $60
Market crashes turn into favorable investment opportunities for value investors.
$OXY Occidental Petroleum Next targets Previous target hit, now looking for Fibonacci 1.618 extension target
Tomorrows OPEC meeting could pump or dump the stock
Occidental Petroleum Corporation (OXY) long.All description on the chart.
Please, don't forget to like and follow.
Thank you.
decision time - which direction will she go?Momentum indicators suggest a follow through in the upswing but the formation of a symmetrical triangle has me wondering which way she'l break.
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!
$OXY An Oversold Risk/Reward Play$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!
