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1OXY trade ideas

OXY long off the 50 smaOXY has been nicely bullish since last fall. It had a great run from Oct '20 to Dec '20 nearly tripling in price. That is where the daily fibonacci extensions were drawn on the left-side. On the right side, Fib extensions were drawn from August low to last week. What is interesting about the August low (also the yearly low as well) is that it nearly perfectly retested the high of the impulse wave drawn from the multi-year low as seen on the left-side. What I love about this chart is that we retested the 50ema. On top of that, we also filled the gap all the way from 10/31. Now seeing a nice bounce here along with the fact that the upper fib extensions are seeing some confluence levels between the different impulse wave extensions drawn. That confluence really helps to solidify my ideas. I am long this one as of today at $31.80. First target to take off 25% is $34. I like to take a bit off when we see moves like this because often it will get stuck here before pushing up. If we do get a little retest from there, I will frequently add that 25% back on. This scaling helps me stay in the position while increasing my profitability on the trade. I ultimately want $38.50. Depending how long it takes to get there, I will most likely take off the trade at that point. That is what the order is set for at this time. I may change my plan depending on price action and how quickly we get there- assuming we do. The stop is at $30.95. I really like this trade I am putting on so hopefully it gets us a win.
NYSE:OXYLong
by nurseblood
$OXY: Monthly signal in oil active...I scooped some long term OTM calls here, gives me 10.5% notional exposure to oil via $OXY, risking 1% of my portfolio if the trade fails. Seems like a good way to be exposed to the big and steady trend in oil, I have already banked my other energy positions and oil futures options, this is a good way to stay exposed with minimal risk (since the weekly oil target was already reached, but monthly has a lot of room and time to go) Cheers! Best of luck, Ivan.
NYSE:OXYLong
by IvanLabrie
Bullish on Occidental Petroleum. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
NYSE:OXYLong
by Rykin_Capital
OXY big breakdown !!!$27 puts expiration 8-20 a price target $22!!!!! Big breakdown on the Ichimoku plus we have parabolic SARS appearing bearish. We have MACD crossover and sitting below the 200ma. Can’t have very much more stacked in your favor. If your on a budget $25 puts for 8-20 are only around $90. If u want to go even cheaper u can try selling the $22 put for 8-20 while buying the $25 put for 8-20. Cost around $60 per contract and caps ur max profit at $240. Not financial advice this is purely for fun.
NYSE:OXYShort
by StonkDonkeyz