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OXYP trade ideas

OXY spiked and started to break outHighlighted previously a couple of weeks ago, OXY just spiked 9.88% on Friday. The weekly chart shows some consolidation and then a two week bullish candle stack. The MACD crossed over in bullish territory and this bullish run has an upside projection target of >100, a good 30% from last trading close. The daily chart similarly has technical indicators turning bullish with crossovers in the RPM, and in the MACD. Clearly bullish... perhaps with some technical retracement, and then a relaunch and then a good break. Wait and watch for it! PS. in some ways, I wonder if this remotely has any indication that Crude prices might be spiking soon again... just wondering.
NYSE:OXYLong
by Auguraltrader
2
OXY Maintaining my position and moving my take profit to 104 USDOXY Maintaining my position and moving my take profit to 55 USD. Warren Buffett's Berkshire cleared by regulators to buy up to half of Occidental Petroleum stock -- WSJ. Occidental Petroleum Corp.'s shares jumped to lead the S&P 500, up 9% after the Federal Energy Regulatory Commission said that Warren Buffett's Berkshire Hathaway Inc. had asked for and recieved its permission to buy up to 50% of the oil producer's shares. The average price target of stock analysts according to Tip Ranks is on 76 USD or 2 STD above the 200D EMA. That is the next resistance and a good level to sell. Nevertheless, I'm more bullish after this news and the geopolitical tensions in Europe that could cause a severe shortfall of LNG. Source: Dow Jones Global News
NYSE:OXYLong
by Reynaldo_Villafuerte_Aguilar
OXY bullish scenario:The technical figure Triangle can be found in the daily chart in the US company Occidental Petroleum Corporation (OXY). Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States, and the Middle East as well as petrochemical manufacturing in the United States, Canada, and Chile. The company ranked 183rd on the 2021 Fortune 500 based on its 2020 revenues and 670th on the 2021 Forbes Global 2000. The Triangle has broken through the resistance line on 12/08/2022, if the price holds above this level, you can have a possible bullish price movement with a forecast for the next 27 days towards 71.75 USD. Your stop-loss order, according to experts, should be placed at 56.89 USD if you decide to enter this position. After crashing 10% in the first week of August, Occidental Petroleum (OXY 0.06%) stock turned around swiftly to recoup all of those losses and then some in the second week. Occidental is firing on all cylinders. It generated its highest-ever free cash flow, worth $4.2 billion, in the second quarter and repaid almost 19% of its outstanding debt, or nearly $4.8 billion, during the quarter. Having hit its debt reduction goal earlier than projected, Occidental also restarted its share repurchase program and is now in a position to grow its dividends at a rapid pace. In fact, Occidental is now confident of increasing its dividend payout even at the West Texas Intermediate (or WTI) crude oil price of $40 per barrel. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NYSE:OXYLong
by legacyFXofficial
OXY, A TRUE example of FALSE break out !Regardless of what legendary investors (Like Warren Buffett ) or famous traders do, we always should trade our own strategy. OXY was fighting with a strong static resistance and finally lost the battle. We have 9 hits to this static line which shows how powerful it is. False break outs are among the most common traps in trading . Although the concept is very simple , many traders fall simply into the trap just because of lack of patience or weak risk management strategy. Please keep this words in mind and I promise you will be the winner in long term : " Be sure about a break out before jumping into a trade " . True break outs have three conditions: 1. Break out should be done by a strong high volume bullish candle and at least 50 % of body of such candle should be placed above the valid resistance. 2. A pull back to broken resistance and rotation is necessary to be sure about true break out. Please note sometime we may not see a complete pull back ( if there is a support before broken resistance) but who can accept the risk of false break out? 3. Continuation of movement in direction of break out. Occidental Petroleum fulfilled first condition in it's last attempt ( if we close our eyes to volume) with a gap up bullish candle above the resistance. It made also a pull back but no rotation and continuation of the upside movement came after that. It means we had a false break out. I investigated false break outs of a dynamic resistance in my previous publication on BTC and here I showed an example of false break out of static resistance. Regardless of type of resistance (dynamic or static) , concept is the same. True break out setup has been shown on the chart. As you see the concept is very simple. Please keep this concept in mind and believe me you won't regret. Wish you huge profits and good luck.
NYSE:OXYEducation
by SaeedSajedi
5
Tight Consolidation in Occidental PetroleumOccidental Petroleum is the top performing member of the S&P 500 so far this year with a gain of 122 percent. It's drifted in the last few months, but now some interesting patterns may be appearing on the chart again. First is the tight consolidation at the 50-day and 100-day simple moving averages (SMAs). OXY has remained close to both following its big rally in the first quarter, which may reflect limited selling pressure. The stock is now back above both SMAs after making higher lows in June and July. Also notice how the troughs form a trend line along with the April low. This consolidation phase has compressed Bollinger Band Width. Such a volatility squeeze may create the potential for prices to expand -- especially after closing at the top of the recent range. Finally, the 8-day exponential moving average (EMA) is back above the 21-day EMA and MACD is rising again. Those patterns may suggest short-term momentum is turning bullish again. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:OXY
by TradeStation
Update on OXY and SOXL Two earlier propositions OXY and SOXL identified were taken, as shared. The exuberance of the week prompted a close of the trade really quickly, particularly for SOXL. OXY just ran out of steam the moment it reached the resistance, so not yet to break out. White arrows denote the entry and exit points. You really need to see the intraday charts, 30 mins or 1 hour so view a clearer picture of why the trade close was prompted. In the longer mid-term, these two still appear to hold good opportunities, and will be under close watch, and waiting for a retracement to turn around.
NYSE:OXY
by Auguraltrader
1
OXY - another interesting proposition TAKENOXY was recently highlighted during the recent crude oil ease off retracement. A friend kept talking about it, and new about Berkshire (Buffet) accumulating this stock kept making headlines over the past couple of weeks. It was in the radar screen as this was something I missed earlier and looked for ward to getting some position as the crude prices should be expected to rocket higher. So, as Crude bounced off the support level (in the other post), the daily chart was tracked for a possible entry. Compared to SOXL, this was not as pretty, but it would do for now. Support held, bounced off, technicals on the daily were supportive of a bullish rally, Crude oil just bounced, and overall this was considered a low risk entry, so a position was taken (white arrow). Currently is resistance zone. Let's see if it has the resolve to break above... it should.
NYSE:OXYLong
by Auguraltrader
Occidental Petroleum (OXY) stuck in a ascending broadening wedgeOXY has a trailing twelve month Price to Earnings (PE) ratio of 8.4. The historical average of roughly 15 shows a good value for OXY stock as investors are paying lower share prices relative to the company's earnings. OXY's low trailing PE ratio shows that the firm has been trading below its fair market value recently. Its trailing 12-month earnings per share (EPS) of 6.90 more than justifies the stock's current price. However, trailing PE ratios do not factor in the company's projected growth rate, resulting in many newer firms having high PE ratios due to high growth potential enticing investors despite inadequate earnings.
NYSE:OXYShort
by UnknownUnicorn38289576
Head and ShouldersThis pattern is not valid without a break of the neckline and a clear downtrend. Possible targets down in orange if price breaks the sloping neckline. The neckline is often a strong support. level which may not remain broken on the first, or sometimes even the 2nd attempt. There are rising wedges well below price. I did not draw all of them. 3 outside down candle pattern completed today and is a 3 candle pattern. This pattern begins with a green candle that is engulfed by a red candle the next session. A third red candle takes price down and is confirmation of the engulfing pattern. No recommendation. Possible short if neckline is broken with a downtrend.
NYSE:OXY
by lauralea
9