Occidental Petroleum CorporationOccidental Petroleum Corporation very good opportunity as for a long term investment.
OXY trade ideas
OCCIDENTAL PETROLEUM ($OXY): Should Call it Accidental Petroleum✨ We provide charts every day ✨
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Everyone's favorite oil company Occidental Petroleum Corporation (OXY) formed a massive gap on its chart back in March.
While earnings was a mixed bag, to say the least, with dismal earnings growth, OXY still beat analyst expectations (in part by cutting spending) and is showing solid growth in revenue.
Despite the mixed earnings, from a technical perspective, it looks like we may be getting a chance at a long entry with a potential target above the gap.
Reference: www.earningswhispers.com | www.barrons.com
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1. Our Fractal trend indicator is signaling an uptrend (Blue bar color) on the 2 hour chart.
2. With the strategy, we want to go long on a retest of the previous S/R as plotted by Alpha Directional Bias in an uptrend.
3. We have stops just below previous swing lows to try and evade any liquidity hunting that may occur before a move higher.
4. Our first target is the R1 range formed by previous highs/gap open, our second target R2 is the assumed S/R flip that occurred in March.
5. To lock in profit, we can also watch for short signals ("S") from Triggers along the way.
going to try for $17.80 resistance one more timeAnd yes i know about oil demand and and soon many rumors about bankcruptcy but stilllll there is room
!!!!! Disclaimer: I’m not: a certified financial planner/adviser, a certified financial analyst or even an economist. i am just doing this for fun and not giving any advices !!!!!
OXY "SHORT"I have been pretty trash with oil trades.. but this time I believe oxy will reach new all-time lows.
There is much uncertainty from investors which makes this a perfect short IMO, I have a 5/8 buy put... didn't short at $17 simply cause I was at a huge loss from some other trade (not enough capital.)
I think we will revisit $12 by today and continue to make lower highs throughout the week. This won't stop Donnie Pump from tweeting but there isn't much more he can do right now. The oil cuts aren't enough to ignore the fact we will run out of storage.
Good Luck!
OXY- A Bullish Trade in an overall Bearish Trend As oil dumped pre market today, I decided to check out OXY
I drew the trend lines and I was happy to see a nice demand zone that was in play for a buy.
I placed orders in premarket for $12.15, $12.15, $12.11, $12.10, and $11.97 (all filled)
I am seeing this as a bullish trade in the short term just following its journey up to resistance.
The big picture bearish pattern is a rising wedge that may morph into a larger bearish
I will exit this trade if my cost basis starts to be of question
Good luck traders!
OXY bullish setup ahead!Mad volume quantity the last six weeks for this one. Reaching it´s bottom at $9, these company has gotten the attention of a lot of investors. At long term any buy below $20 is a steal for this stock.
Yesterday, when the stock went above $12.60, the 5 min bearish trend got broken and closing around $13.60 the bullish setup has a high probability of continue.
I identified the upcoming resistance points at 13.66, 14.70, 15.86, 16.86 and 18.00.
A pullback may be expected for the next week so we have to be cautious if it breaks down 12.30 which is the current bottom of the uptrend channel. Buffet bought shares at a price average of 11.57 so this would be the "Buffet Support", if the price breaks the support we might be seeing 10.50-9.00 range again
Trade Idea:
- Long position at 13.75
- SL: 12.20 (Uptredn Channel break confirmation)
- TP: 18.50 - 19.00
If you swing trade you might want to close and open positions around the resistance/supports.
Occidental Petroleum upside targetsOccidental 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.
04/17/2020 day trade $13Call 0.15 acurrent position: 04/17/2020 13C at $.015 quantity (10)
current position: 10 shares at 15.51
basically 13.10 is the resistance, i would be amazed if it crosses that.
Lets create some resistance and support levels for reference:
supports: 12.30, 11.76, 11.26, 10.80. anything bellow that, it would be bellow the previous higher lows mentioned bellow. Basically if tomorrow 04/17/2020 it goes bellow 10.80. that would be the ultimate stop loss for me 04/17/2020 13C at $.015 quantity (10)
resistances: 13.10 (ema and tirone said so), 13.50, 14.
NOTE: right now, we are creating a higher low. The previous higher lows were: 04/01/2020 at $10.13, and then a lower low was 03/18/2020 at $8.89. I am suspecting that the lower low has already been formed today 04/16/2020 at $12.18. I would not be surprised at all if it does maintain the after hours price at 13.10 and open around there tomorrow. and create a gap up.
Today, the market was absolutely crazy, all stocks that were going up, continued up: tesla, facebook, spy, after hours, they gapped up. oxy, gapped up as well! it was crazy!
