Waiting for a breakout of the downtrend (SMA20)Would see really nice boost only if it breaks the downtrend
OXY1 trade ideas
OXY Short PutCash-Secured Put : 23-strike expiring 4/16 for $0.48 Cr. 80% OTM and $550 BPE for a max 9% ROC.
- OXY - Bullish Not only is the current channel testing well but we could see a large gap up very soon.
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OXY1. OXY has been on a good bull run the past few months. It is still printing higher highs and higher lows and I plan to the next move up from the current pullback.
2. 26.50 seems to be holding as support and a good entry zone. Price could still go down to 24.60 level (a good support zone) and bounce up but if price breaks this level, there is a big chance it could go down more.
3. Target1 at 32.77 with 32 area as resistance. Target 2 at 37.73.
4. Another good entry on the way up is at 28 with a good green basing candle.
OXY - Buy 4th Wave Pullback to Cup and Handle TgtThis looks like a great set up. Price has moved back to the top of a prior gap, which is usually strong price S/R. It is also at the 50 EMA. We also have the PPO crossing over above the zero line. Oil seems to be moving up again. And MRO surged today. I looked at MRO and OXY on a comparison chart and they trade very closely.
Looks like the Cup and Handle target will match the 5th wave target as well. I'll be buying some calls on this one, since the IV is low for this ticker.
OXY Resistance @ 28.50Oxy hitting a double top on the 1 HR chart, showing resistance at 28.50. Will continue in the downtrend and could regain momentum, but could meet resistance at the 28.50 mark. Once that breaks, then stock should be on the right path.
OXY- March 18 AnalysisGood morning community- It has been a while since my last video. Here is my analysis for OXY. I hope you enjoy it. Remember, I just draw lines on charts and I do not recommend or endorse any stock nor I am a financial advisor. Do your due diligence before you invest.
OXY wants to test the 50 week ema, 51% upsideOXY is punching through trends and has breached the 21 week ema. It wants the 50 week ema now. That will put it in a descending wedge which it may subsequently break out of to the upside after a period of consolidation, seeking the 100 week ema.
OXY: Ascending Triangle, confirmed (143PC)Ascending Triangle, confirmed (143PC)
Pros:
Descending volume during formation
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 25, very high
250RSI above 50
200MA ascending
Target:
PT = 59.78$
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OXY Cup and handle? PossiblyUnlike the other C&H's I've found, OXY is the most iffy. The uptrend is not super definitive. Everything else looks great. The uptrend has me wondering the legitimacy of it but I went ahead and picked up some options, small position though. Let's see what happens here. Target is $39 if the formation is indeed legit.
See our previous Cup and Handle Calls:
TTD
BOOT
AAPL
SDGR
OXY looks like a cup and handle formationLooks pretty solid but uptrend is somewhat iffy so I only picked up a small position. Target is $29. With XL pipeline shutdown thanks to biden, we could see oil prices spike so a run up in OXY makes sense.
OXYLooking for a C&H. looks to be setting up well. Hopefully in the next couple weeks it'll break to the upside.
OXY Likes OPEC+ Playing Nice, Clear Cup & Handle FormingOil recently hit a monthly resistance dip and gave us a good buying opportunity on some tickers including OXY. OXY recently got de-delisted from the S&P 100 but is showing resilience in one of the hardest hit industries during this pandemic. It has also been getting accumulated pretty heavily as of recent.
If OPEC+ keeps playing nice, OXY is primed for a run to $24 in the mid term between February-March.
