OXY strong buyEntry price: 74.1
Target price 1: 80.1 +8%
Target price 2: -
Stop-loss: 70.85 -4.4%
Period length: 3-5 days
OXYP34 trade ideas
OXY Going to $80+ by end of AugustI have been watching OXY the past two weeks and I have strong evidence that the stock will rally to monthly highs. My personal contract target is $85 September 9 Calls.
Give this one more time, it has been consolidating the last week after Buffet's news but I think we have more buying to come. Notice how even when the market dropped 1,000 points last Friday, OXY was still holding strong above 50% ownership rumor levels ($75+).
Personal Target - $88.00+ by end of September.
Not to be deemed as financial advice.
OXY - LonggRecent News
Warren Buffett’s Berkshire Hathaway on Friday received regulatory approval to purchase up to 50% of oil giant Occidental Petroleum. This caused the massive candlestick on 19th Aug.
Fundamental
Profitability:
OXY's Return On Assets of 14.82% is among the best in the industry. OXY does better than the industry average Return On Assets of 5.23%.
OXY's Return On Equity of 39.51% is among the best in the industry. OXY does better than the industry average Return On Equity of 24.13%.
OXY has a Profit Margin of 32.48%. This is better than the industry average of 16.24%
Valuation:
Price/Earnings Ratio: 9.64
Forward Price/Earnings Ratio: 9.17
Growth:
Earnings Per Share - In the last year, the EPS has been growing by 626.21%.
Earnings Per Share - Measured over the past 5 years, EPS has been growing by 29.36% on average per year.
Revenue - Measured over the last 5 years, Revenue has been growing by 20.70% yearly.
Impending Breakou (WEEKLY)OXY has been on fire this year and its looking to go higher. On the weekly OXY is looking to breakout of its previous high set at 73 in May. MACD is curling up and RSI is looking to go upwards as well. Very bullish closes over the past two weeks. Looking for it to hold above 75 this week before I enter.
OXY Sellers Fall Down ( Flat Bottom Triangle Breakout) LONGNYSE:OXY
One hour chart: NYSE:OXY
In the past day, the relative volume of sellers has decreased
and price momentum is gradually increasing despite
the general market reaction to federal economic news.
The flat bottom triangle breakout suggests sellers are capitulating
on pricing given current circumstances. The RSI Oscillator
is in a mid-range suggesting more upside.
I see a long setup with call otpions 2 weeks expiration strike $85.
Occidental USA SSI Live Trading Series
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8/24/22 OXYOccidental Petroleum Corporation (NYSE:OXY)
Sector: Energy Minerals (Oil & Gas Production)
Market Capitalization: 69.778B
Current Price: $74.91
Breakout price: $75.60
Buy Zone (Top/Bottom Range): $71.55-$65.95
Price Target: $85.50-$86.60
Estimated Duration to Target: 30-33d
Contract of Interest: $OXY 10/21/22 85c
Trade price as of publish date: $2.87/contract
OXY in an ascending channeland heading towards all time high ( 2019) resistance
having crossed through the high volume area
and over the SMA 100 in the past ten trading
days with earnings impending. They will be
excellent. Warren Buffet seldomly buys junk.
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.
OXY jumps on News Catalyst (Buffet) BUY LONG NOWNYSE:OXY
Massive Bullish Candle takes out 90 days of price action
See the chart for more analysis
Time is of the essence as they say; buy now or do not chase !
$OXY - Bump & Run Reversal PatternKey intakes on this market:
- In a confirmed uptrend since beg 2022.
- In a longer term downtrend since 2011, as portrayed by the downward sloping, neat trendline.
- Bullish momentum at 10 year highs.
- Price currently providing another touch to this trendline and threfore in an inflection zone, in a value area. The price breaks out (and closes) = probable direction north. The price fakes out = probable direction south with logical places to place your targets and stop losses prominent in this chart.
- Best for last. Type Bump & Run Reversal o Google and then get back to this chart. Spoiler: it is one of the most powerful reversal patterns.
But hold on your horses, that bearish candlestick fromed last July is far from appealing. Corrections are normal, but a true bullish signal within a correction would have been lack of interest from the bears. That's not what that candle displays.
Also note that there is an humagouns supply pool in the 85-90$ 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!
$OXY WATCH for possible breakout above 71.46, $OXY WATCH for possible breakout above 71.46,
Target: 77.99, 9.4% Stop: 68.74
Loss: 3.6% P/L ratio: 2.6 : 1 - Good
OXYOccidental Petroleum rallied strongly on Friday with a high of $72.49. Hence a daily close above this level could propel prices towards either $76.75 or $82.16, both being Fibonacci Extension’s 1.272 and 1.618 levels derived from $72.49 and $56.83. However, a daily close below $64, which coincidentally the EMA20 day level, could present short selling opportunities. First downside support is $56.83 while second support is seen at $51.53.
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.
OXY and W.iv) of (iii) Ext.I have taken large profits from OXY with rising wedge pattern. However, I have been following this stocks for a long time by counting EW. It's likely forming on W. iv) of (iii). This wave 5 has possibility to be 5th wave Extension. So, I made the trading plan regarding to Elliott Wave possibility. The TP is a rather challenging but my risk calculation is reasonable. Thus, the trading plan is worth taking. Good Luck+
OXYBuffett's ongoing purchase of large volumes of OXY, as well as buyouts by the Bill & Melinda Gates Foundation should lead to the growth of the paper, which is still quite attractive in terms of financial performance.
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
OXY setting upquite a few #oil stock setting up despite oil futures looking like they want to break down. Believe stocks?
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 $40 per barrel.
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$OXY good buy @ $35-$40This is very obvious Head & Shoulders pattern. I expect the break of neckline in september.
OXY cleanit's a break of the channel, target still 42. Objective short would start today. Yeah I know Warren is buying, so what.
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.
Reversal or further break downTrend line from April confirms that it’s a trend reversal and I went long on Oxy shares and options. I do see a potential of hitting PT of $70 in next few weeks. Will close my position If this closes below $55 on any given day.
