1OXY trade ideas
Occidental Petroleum: Do not Slacken!We still locate the Occidental Petroleum stock in the wave (c). In the next step, it should therefore exceed the resistance at $71.19 to mark the high of the superordinate wave B in turquoise. Subsequently, there should be strong sell-offs.
OXY long ideaOXY:-
As long as the trend line holds OXY should move upwards to
Targets:-$64.10, $68.00
Stop loss:- $58
Oxy update, and my most profitable strategy discussedHere is an update on the OXY chart after oil had its pivot in April. Oxy was my best trade of the year dollar amount wise and I am 6/6 the last 1.5 years on these longer dated call strategies. I like to trade wedges or bull flags on value stocks and or GLD and similar ETFs. This wedge breakout like many I have posted before is my most favored setup, I am currently doing this with CLSK.
1. You layer into a long on a demand zone as the contraction nears its end.
2. You enter on a bottoming stochastic RSI, here I added to the position after the initial bump
3. A new entry zone is noted on a potential breakout on crude oil futures
4. The stock bounced on the 100 EMA, I plan to layer in next week
5. My preferred entry is 4-6 months out likely a 65-70$ strike on calls
Descending Triangle BreakoutOXY broke out yesterday from a down trend line with volume to confirm strong buyer interest. I'm wanting to see a price pullback before I make my long entry.
Buy to open = Around $60
1st profit target = $62.50
Stop Loss = $59.50
OXY updateI expect the price to break above the resistance of 70.65 and goes higher , first to 75 then higher this year.
OXY LONGMassive base around historical trendline
Good zone to buy the dips till 55.85
Indicators oversold and bullish divergence.
Warren Buffet bought more $2.5 million value shares this weekend.
Medium term target is $75
Long term $140+
Well DUH...Inverse Head and Shoulders printing on the WEEKLY TIME FRAME
No worries here. Got my bags loaded and waiting on this baby
to fly...looking for OIL per BARREL to TRIPLE almost overnight
in 2025 after "BLEEEEEEEP" gets a serious spanking.
*************** NOT FINANCIAL ADVICE*****************
OXY - retesting for the massive move!!Oxy has been in an uptrend for the last few months while consolidating within the triangle. We have recently broken out and are in motion for the retest. Expect a bounce to break out of the greater down trend before we shoot to the stars.
Mean Reversion First then Go LongOXY is very extended relative to its moving average ribbon. But the breakout looks promising for a long. Look for consolidation for a few days or a pull back to its 13 EMA to enter long on the the multi year breakout. I traded the fake breakdown on a recession signal a few months ago and now its time to trade the possible breakout on more inflation!
To be clear if the pull back doesn't happen I wont chase. Let it reload first. If not There are lots of other tickers out there.
OXY should bounceI am expecting oil and Oxy stock to bounce here. Oxy finds itself on the 100 EMA which serves as support on pivots and overall up trending assets. A historic bottom of the stochastic RSI is marked in dashed red as well. This stock is very oversold here after the tremendous rally. This is actually my best trade of the year, those 70$ Jan 2025 calls made me bank and I still have 33% of my position riding. The question now is do I add here?
Is this retracement the opportunity to buy? 🤔 Price target $117Is this retracement the opportunity to buy? 🤔
If Warren Buffett owns it so should we 🚨
Price should bounce if it retraces to the bull flag breakout point.
We have mapped predicted price movement.
Our upside price target is $117.
Will you be buying if we retrace further?
OXY expect bounceOXY had a doji reversal candle on the weekly with a body pretty close to the center, not tremendously bearish long term but definitely made sense for a pullback. There is a ton of historical price action here and I expect a bounce and continuation around this level. My target for the year of 74+ dollars remains.
-I did sell 66% of my 70$ Jan 2025 calls on the major pump
-I will keep my last 33% to keep exposure to this stock and the oil sector.
OXY - a bullish setup for the agesOXY is on the verge of breaking through a major resistance line which was first touched over a decade ago. As the daily chart repeatedly bumps up against, but not crossing, this key resistance line, multiple factors make OXY a screaming buy.
OXY LONGOXY here on a weekly trendline
Bullish here at $56 to target 90.81 within a few months
Personally grabbed Jan 2025 calls
I think we either get a DIRECT bounce from this spot, OR we see a failed breakdown scenario first, but ultimately the target is the same.
OXY Gap Retrace and GoSimple Gap N Go on a nice Fib retracement, Gap might fill but will place stop below previous day low
OXY breakout to all time highFractal move from previous all time high could play out ( blue 🔵 line). Also we can see a breakout from a bull flag that could take us to all time hight now that the energy sector is heating🌡️up. In the shorter term we see a minor retracement to recent break out support line that was previously resistance. Upper Bollinger band is current short term resistance point
OXY at an APEXOXY has converging lines of resistance and support. Usually this means big move incoming. Waiting until a break and retest before entering.
Immediate buy on OXY!🔉Sound on!🔉
Thank you as always for watching my videos. I hope that you learned something very educational! Please feel free to like, share, and comment on this post. Remember only risk what you are willing to lose. Trading is very risky but it can change your life!
Update on OXY tradeI have decided to cover my initials since I am up 500$ per contact on these 70$ Jan calls. I am able to utilize this cash for more CLSK limit orders on the dip. I plan on keeping the other 66% of my OXY calls until at least my initial yearly target of 74$. I will then layer out and lock in the win. Congrats to anyone who used demand zones to buy into this exceptional trade, calling the CL (oil) bottom was also pivotal to this.
OXY hit first targetMy first target for the year just hit on OXY, my setup is 70$ calls in Jan. I plan on holding these longer since the oil reversal was so strong. My next target is 73.5$ which was my hopeful target for the year, but at this rate OXY could hit 80 plus dollars. This slow accumulation and dip into demand over and over is what caused this move, this alongside the oil reversal.
-I plan on holding my Jan calls until deep ITM if possible, I will definitely sell the contracts in the winter.
OXY Imminent Breakout This is a multi-year consolidation here that is on the cusp of breaking out.
Oxy over 66 triggers a breakout move into 73.14 where a multi-decade trend line will be tested. If bulls overcome that level the next target is 90.71
