OXY Petroleum BULL Q1-Q2 2020 Probability If CUP AND HANDLE condition met, expect BULLish Pattern after beginning of 2020 !!
First Published IDEA!!
OXY trade ideas
Double bottom at major support- At major support level
- Double bottom
- Seem to be in range
- Earnings is OK and 2 bull bars at support
- Gained when broad market was down
Going to buy OXY this week!Waiting for my laguerre RSI and Gann to give me the final confirmations from my algo, once it crosses the red line I will enter. Warren Buffett just pledged 10 billion for OXY to takeover APC so this is essentially a news play. I'm bullish on OXY for the rest of the year.
Bear Candles (Slightly Deviated)Oscillators on the down. Some bullish resistance on the current candlestick, may or mat not lead to anything.
$OXY Occidental Petroleum, trades at a discount price. Due to the resurgence in oil prices over the past month, we see OXy as having great potential rewards for investors. Currently trading at a 12 P/E and at the same price as 2016 when oil was 50% less in price, this looks like a sure bet.
OCCIDENTAL PETROLEUM CORP. (NYSE:OXY)-D1 - BEARISH SHARK PTTRN.* Bearish Shark Pattern
* Some indicators are looking bearish on D1.
OXY - BULLISH DIVERGENCE ON D1* Some indicators are looking bullish
*Bullish Divengence on rsi and cci... (blue arrows)
$OXY Goodnight Daily chart doesn't show & tell as much as 4Hourly does. Neg MFI divergence to compliment a break of 20 EMA + bearish 20 crossover of 55MA (low). Candle pattern towards top is like de ja vu all the way back to late Jan. OPEC meeting coming up so I'm sure that'll add to a temporary panic sell, but OPEC potentially planning to increase production so depending on the outcome, I'd be bullish after seeing a dip. $77.50 first target price w/ $72.50 worst case before seeing a re-trace but, it's not easy being bullish on crude with a bullish US dollar
OXY - Example of a Long/Bullish Cup & Handle PatternNeed to look for these type of patterns on daily and weekly, to always keep big picture in MIND and then trade smaller picture of each stock chart.
Reaching previous low point for OXYOXY is eaching its previous low point and MACD, CCI and BB are are low point. There should be a short term bounce.
