1OXY trade ideas
OXY Busted Symmetrical TriangleNice setup on OXY
Looking for a quick move to the overhead supply zone
OXY set to go higherThe stock will rally once the price breaks past the pink line. Oil and gas will get more expensive as the demand continues to increase. Sure, people are driving less and working from home BUT the amount of construction projects going on is staggering, heavy trucks and equipment use A LOT of oil and gas. The demand is strong and the bull rally that started in OCT 2020 will continue.
Energy sector is going to be hot soon Oil companies still have room to continue rising and continue the trend that began at the end of October last year. After they reached a peak as of March, they have been on hiatus, but this, from my perspective, will not last long and we will see a continuation of the trend soon.
Likewise, I see it likely that oil prices will continue to rise in the following months until they reach at least $100 per barrel.
The oil companies with the lowest prices tend to rise the most, although a good way to capitalize on the trend would be to go for a leveraged ETF for the entire sector, such as GUSH.
ABC BullishOXY is trying to break through a previous gap down today which is causing resistance. If price gets above it it will become a source of support.
ABC bullish is a measured move down within a larger measured move down. Targets are calculated using the AB leg (32.52 - 17.09) and fib levels. I use .38, .62 and .79 for targets one but there are other ways to do the calculation, such as using the exact fib levels of .386, .618 and .786. The AB leg is multiplied by these levels and added to long entry level. Possible stop can be under C. Long entry level is placed at the break of the BC leg with an uptrend. This level is subjective as you may not place that at the same place I place it (o:
No recommendation
$OXY - unusual call optionsThere are some big bets at the $30 strike price with expirations of 5/21 and 5/28
I already played options on this stock and cashed out at 30%. I have alerts set to detect dips to buy back in with a June 4 expiration.
I never assume that big option bets mean anything definitive.
OXY rising with SPNOverview:
SPN pulls ahead of other SP500 categories for YTD returns
OXY performing quick second test of resistance
Current Trend:
OXY was bearish
RSI is rising
Trade Plan:
Enter OXY at end of day (5/5) if above resistance line
If fails to break resistance put back on watchlist
Target Profit:
Sell 100% of position at $30.00
Stop Loss:
Initial $25.77
Trailing to low of previous day
Risk Reward Ratio:
2:1
My trading plan dictates that this is my minimum ratio
Disclaimer
Not investment advice. Thinking out loud in a crowded room.
$OXY | Bull Flag Breakout: Watch For Upside Continuation$OXY broke out of a bull flag and price is now consolidating above a key pivot. Watch for continuation to the upside.
Waiting for a breakout of the downtrend (SMA20)Would see really nice boost only if it breaks the downtrend
OXY Short PutCash-Secured Put : 23-strike expiring 4/16 for $0.48 Cr. 80% OTM and $550 BPE for a max 9% ROC.
- OXY - Bullish Not only is the current channel testing well but we could see a large gap up very soon.
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OXY1. OXY has been on a good bull run the past few months. It is still printing higher highs and higher lows and I plan to the next move up from the current pullback.
2. 26.50 seems to be holding as support and a good entry zone. Price could still go down to 24.60 level (a good support zone) and bounce up but if price breaks this level, there is a big chance it could go down more.
3. Target1 at 32.77 with 32 area as resistance. Target 2 at 37.73.
4. Another good entry on the way up is at 28 with a good green basing candle.
OXY - Buy 4th Wave Pullback to Cup and Handle TgtThis looks like a great set up. Price has moved back to the top of a prior gap, which is usually strong price S/R. It is also at the 50 EMA. We also have the PPO crossing over above the zero line. Oil seems to be moving up again. And MRO surged today. I looked at MRO and OXY on a comparison chart and they trade very closely.
Looks like the Cup and Handle target will match the 5th wave target as well. I'll be buying some calls on this one, since the IV is low for this ticker.
OXY Resistance @ 28.50Oxy hitting a double top on the 1 HR chart, showing resistance at 28.50. Will continue in the downtrend and could regain momentum, but could meet resistance at the 28.50 mark. Once that breaks, then stock should be on the right path.
OXY- March 18 AnalysisGood morning community- It has been a while since my last video. Here is my analysis for OXY. I hope you enjoy it. Remember, I just draw lines on charts and I do not recommend or endorse any stock nor I am a financial advisor. Do your due diligence before you invest.
OXY wants to test the 50 week ema, 51% upsideOXY is punching through trends and has breached the 21 week ema. It wants the 50 week ema now. That will put it in a descending wedge which it may subsequently break out of to the upside after a period of consolidation, seeking the 100 week ema.
OXY: Ascending Triangle, confirmed (143PC)Ascending Triangle, confirmed (143PC)
Pros:
Descending volume during formation
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 25, very high
250RSI above 50
200MA ascending
Target:
PT = 59.78$
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OXY Cup and handle? PossiblyUnlike the other C&H's I've found, OXY is the most iffy. The uptrend is not super definitive. Everything else looks great. The uptrend has me wondering the legitimacy of it but I went ahead and picked up some options, small position though. Let's see what happens here. Target is $39 if the formation is indeed legit.
See our previous Cup and Handle Calls:
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