OXY1 trade ideas
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 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 $24 in the mid term between February-March.
Occidental, aka mini-Exxon, flashed BUY signal!! Cup w/Handle$OXY is the little engine that could, chugging along the coat-tails of the energy sector.
TA shows a cup with a handle.
4H chart, on the ULTIMATE Stock Indicator, it flashes a perfect entry with a Buy signal and 8 confirmations.
Potential shot to the moon with Feb 19 options, towards a Earnings run-up.
Happy Trading, from CJ -- aka the greatest FURU.
To find out more about The Ultimate Stock Indicator on Tradingview, please check my public profile.
OXY: Update - Buy on PullbackOn the previuos analysis $OXY performed very well according to forecast and the first target was reached. We can see that the price created a big engulf candle that is a sign of strong bullish momentum. If the price will give us the possibility to enter again on pullback near $18.30 that would be great to target even $19.70 as the first target again. Otherwise use the next two targets.
Thank you and Good Luck
$OXY - The first bull🐂 came near the door 🚪🚀The price created an ascending channel. On the chart, the price is changing direction and getting stronger. So technically we are going to trade with the short-term trend that is moving up.
For confirmation, we need to see the price above $18.23
Thank you and Good Luck!