Occidental Petroleum Technical Analysis
The idea is to go long, but wait the end of the price setback before going long.
Occidental Petroleum — Occidental shares climbed more than 4% after a SunTrust analyst upgraded the energy company to “buy” from “hold.” The analyst also raised his price target on the stock to $25 per share from $13 a share, implying a 12-month upside of 27% from Thursday’s close. “We believe Occidental is in position to continue improving its balance sheet through internal and external means,” the analyst said.
Occidental Petroleum — Occidental shares climbed more than 4% after a SunTrust analyst upgraded the energy company to “buy” from “hold.” The analyst also raised his price target on the stock to $25 per share from $13 a share, implying a 12-month upside of 27% from Thursday’s close. “We believe Occidental is in position to continue improving its balance sheet through internal and external means,” the analyst said.
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