Occidental Petroleum Corporation

Long

OXY rising with SPN

By Ronald_Ryninger

Updated

Overview:

SPN pulls ahead of other SP500 categories for YTD returns
OXY performing quick second test of resistance

Current Trend:

OXY was bearish
RSI is rising

Trade Plan:

Enter OXY at end of day (5/5) if above resistance line
If fails to break resistance put back on watchlist
Target Profit:
- Sell 100% of position at $30.00
Stop Loss:
- Initial $25.77
- Trailing to low of previous day
Risk Reward Ratio:
- 2:1
- My trading plan dictates that this is my minimum ratio
Disclaimer
Not investment advice. Thinking out loud in a crowded room.

Note

Closed at resistance line. Added to watchlist for tomorrow

Order cancelled

Rotated back to watchlist

Ronald_Ryninger

Checkout my free weekly market updates on substack!
ronaldryninger.substack.com

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.