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OXY trade ideas

OXY Early Breakout from FLAT BOTTOM TRIANGENYSE:OXY OXY has market momentum with the ongoing Buffet buying frenzy. It has been in a pattern since the spring 2022 Buffet buying that is a flat bottom triangle. The latest buying seems to be resulting in a breakout from the triangle yet without retest. Rising relative strength on the RSI serves to validate the move. Buffet seems to know that the current inflation is a headwind for growth for the alternative energy sector while Big Oil is drowning in cash and buying back stock relentlessly. A ll in all , OXY IS A STONG BUY even if spot oil and futures prices are drifting lower. if the retest fails and OXY returns to the triangle in conjunction with oil prices decreasing and the general market sideways, I will take some put options for a few months.
NYSE:OXYLong
by AwesomeAvani
1
$OXY - Bump & Run Reversal PatternKey intakes on this market: - In a confirmed uptrend since beg 2022. - In a longer term downtrend since 2011, as portrayed by the downward sloping, neat trendline. - Bullish momentum at 10 year highs. - Price currently providing another touch to this trendline and threfore in an inflection zone, in a value area. The price breaks out (and closes) = probable direction north. The price fakes out = probable direction south with logical places to place your targets and stop losses prominent in this chart. - Best for last. Type Bump & Run Reversal o Google and then get back to this chart. Spoiler: it is one of the most powerful reversal patterns. But hold on your horses, that bearish candlestick fromed last July is far from appealing. Corrections are normal, but a true bullish signal within a correction would have been lack of interest from the bears. That's not what that candle displays. Also note that there is an humagouns supply pool in the 85-90$ area. Just pull the higher timeframe chart and look at that bearish impulse starting at the end of 2018. Above all, remember that in trading there are no certainties. There are just probabilities. And a good probability of success here, say 65%, would entail that there is a 35% chance you lose your equity. Manage risk! be diligent and responsible!
NYSE:OXYLong
by ruben_rodrigues
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