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OXY trade ideas

This is a great time to buy oil ! Trump saysPardon me, but I am not going to care what President Trump says. Regardless of equities, commodities , currencies or indices, it works on a simple equation. That is demand and supply. We already know from various sources that Oil supply now is exorbitant and demand is sorely lacking. Think less air flight ,cruises , coaches, cars, trains , etc that are adversely affected by Covid-19. The more the cities remain lockdown and less people get out to drive, the less demand it is for Oil. So when demand is less than supply, price drop naturally. Many may have known that OXY is one stock owned by Warren Buffett. Though the stock has tanked badly, he is still collecting his 8% dividend from OXY. He is a very smart investor unlike activist Carl Icahn. He increased his stake in OXY and is adamant to change the entire board. Read article here At current price, it is too late to short (peak in 2018 was 88, 2019 was 48) and definitely not a buy for me even some analysts are saying to go contrarian. When in doubt, stay away.....
NYSE:OXY
by dchua1969
2
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