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Occidental Petroleum CorporationOccidental Petroleum CorporationOccidental Petroleum Corporation

Occidental Petroleum Corporation

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OXY trade ideas

$OXY - like the markets.... i have trust issues. $OXY I dont even want to offer a recommendation on this one. Why? Because the company is literally upside down with debt. See article: www.houstonchronicle.com From my quick analysis, it appears that oil contract that closed Friday of last week ended sharply higher. This carried into the weekend with the OPEC meeting and then into Monday bringing euphoria back to the market that we could possibly continued oil cuts & market stabilization. Today the narrative was changed saying that there is trust issues between major suppliers as we watched Aramco jack their prices. I would wait to see if the stock can stabilize at the bottom of this gap zone in the 19-20 dollar range before buying or adding more $OXY. Oil is another sector that will be completely rocked if a "second wave" of the virus hits. We still have millions of gallons of oil floating in barges across the world. I wonder how much deeper negative oil prices would go if we shut down again. If it does rise, i would use $25.50 as an entry point and $24 as a stop loss.
NYSE:OXY
by IMF_Trading
1
$OXY Occidental Petroleum Bullish move Hitting some major resistance levels , with the gap fill as a potential rejection target, As long as oil remains stable OXY looks like a few $$$ more in gains Short Interest 9% could help sustain the rally Company Profile Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, natural gas liquids, natural gas, carbon dioxide, and power. The company was founded in 1920 and is headquartered in Houston, TX.
NYSE:OXYLong
by RedHotStocks
1