OxyI don't know what Mr. Buffett's plan is, but I think the price will continue to fall to lower levels.
OXYP trade ideas
Huge Inverse Head and ShouldersIf you can't see this on the weekly time frame...
Then you don't have any business making big $$$
in 2025-2026. Even your seeing eye dog would slap
you upside you head for NOT investing in this baby.
Don't worry...everything is playing out just fine over
here in this camp...BAM!
Even a SEEING EYE DOG...If you can't see this on the weekly time frame...
Then you don't have any business making big $$$
in 2025-2026. Even you seeing eye dog would slap
you upside you head for NOT investing in this baby.
Don't worry...everything is playing out just fine over
here in this camp...BAM!
Occidental Staggers Before Big EventsOccidental Petroleum has been rangebound for more than two years, and some traders may worry about potential downside with some big events looming.
The first pattern on today’s chart is the price action after the April 12-June 4 slide. OXY retraced half the decline before rolling over, which may suggest its trend is now lower. The recent drop below $61 could also be interpreted as a bear-flag breakdown.
Next, the 50-day simple moving average (SMA) is in the process of forming a potential “death cross” below the 200-day SMA.
Third, the oil stock tried to clear last year’s high above $69 in April but couldn’t hold. That kind of false breakout is a potentially bearish reversal pattern.
Finally, at least two big events could impact trading. On Thursday, OPEC+ is expected to let production increase as previously announced. Quarterly results follow on August 7.
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Occidental Petroleum Corp | Range Idea | Pre-MarketWithin a 100K Account Balance the split on Trade & Risk Management = 1/10% - 1/20% margin as an Execution Range, to set up an Order Entry and select a per Trade on Average, to avoid any drawdown hit regarding to Stop Loss & to execute Risk on Management Specifics. Trail Stop efforts are a Focus of Attention to the set up in general when Volatile-Price-Action is involved, mainly because of the usage of an Intraday-Scalp-Position tool on behalf on the Trade Plan in general
# POSITION & Risk Reward | 15 Minutes Time Frame
- Measurement on Session
* Retracement | 0.5 & 0.618
* Extension | 0.88 & 1
# POSITION & Risk Reward | 1 Hour Time Frame
- Measurement on Session
* 20 EMA
* 1000 EMA
* Retracement
# TREND | TIME FRAME CONDUCTIVE | 4 Hour Time Frame
- Support & Resistance area 1
- Support & Resistance area 2
- Support & Resistance area 3
- Subdivision & General Trend
- Measurement on Session
* Retracement
* Support & Resistance
* Trade Area | Focus & Motion ahead
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
* Weekend Crypto Session
OXY bullish or nah?Buffet is invested in this name
Above major moving averages with other oil names looking bullish as well.
Nice base and breakout. Today's open needs to hold in order to stay bullish.
OXY trendline breakout - US Stock63.50 above breakout possible
65/66/68 expected to test
21 ema above daily close which gives bullish sign
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.
