Bear Candles (Slightly Deviated)Oscillators on the down. Some bullish resistance on the current candlestick, may or mat not lead to anything.
0KAK trade ideas
$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.
OXY: potential rally away from here soonI'm buying dips in this stock, awaiting a rally after the OPEC meeting this week. A good cue is if we don't hit 66.92 within the next 3 days, so, keep your eyes open to start accumulating positions, and perhaps taking some profits if you're already long and get a sharp rally to the top of the range once more.
If that fails, we might see the stock fall lower, but we can't know in advance
Good luck,
Ivan Labrie
RSI BOX on OXY, leave the box and price plummetsjust watch out for fake outs. I fell for the last one a few weeks ago, right after i posted the same idea. I fixed the boxes so they are more accurate now. I'll link my old idea if you want but you don't have to bother, this is the same one, but better.
RSI 55 level constantly providing sell signalsNotice every time 55 breaks, there's a long down trend in the RSI to somewhere around 32. It's obvious that this is going to happen again, because the downtrend has already been developing for the last several days.
