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Occidental Petroleum Corp (Extended Hours)

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OXY trade ideas

OXY - could break out of consolidation soon?After trading up strongly in late February, OXY went into consolidation for the past 6 weeks, forming a right angle wedge. It is now looking like a breakout to the upside is near. If and when it does start closing above 62.50, i will be looking at targets of around 72 (wedge breakup target) to 77 (a prior high way back in June 2018). Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
NYSE:OXYLong
by Juliac
1
Bedside fairy tale How do successful traders of odds become 1- Peace of mind, low-key goals This is a conservative trader: set low annual earnings targets and settle for more than 20 per cent; Do not want to have large fluctuations in capital equity; Leverage in real trading is a third of what it was when he was younger. 2- Relatively pure theory and method Three types of people are not suitable for commodity futures trading: (1) day traders; ② stare at more than disk; ③ Those who are emotionally serious 3- Keep pace with The Times, good at summarizing and self-improvement Some personalized solutions are proposed for breaking the market: don't chase the market for missed trading opportunities; Once you have taken profits in a market, avoid trading in that market for a few days 4- The ability to improvise There is a sugar trade in which the author was initially very bullish on a long breakout, but it backfired: the upside breakout was false, and then he made huge profits by shorting the downside breakout 5- Good sense of risk control Successful market speculation is based on risk management. Like Texas Hold 'em, how you play your cards well is more important than what you are dealt. Futures Sniper: 21 Weeks of Trading Winners
NYSE:OXYLong
by Haoge
7
OxyManaged to break back into my support. So cme in as a fake breakdown starting. This could turn bullish since it’s so tight in between support and resiatnce. I still see a long term risinf brodenig wedge but if we pop and hold 58s I’ll be watching 60s and high of 68 or old high. It was looong bearish Howver that drop could still turn into a double bottom as we found support at previous low range. I’m still not convinced but I’ll flip my bias short term if this starts pickup steer. I did get stopped out of a few contracts I opened at 57.40s. In profits. Got a few more I may stop out if we close above 58s
NYSE:OXY
by Erictaylor
Oxy So far the short is working out beautifully I ended up adding on the little pop we got this morning. We can see that we have now broken down from that 5550 area. The target of this is the bottom of this whole channel, but nothing go straight down. The first support area that I would be watching is the 54.53. That was an area that we saw a WIC recently that pushed us back up and buyers may sit there hoping for a bottom. If we get a bounce there most likely it will come back up in retest the breakdown of the pattern and another great opportunity to short. If it can’t break back above 56 of course, adding more to your short there would be smart. The next targeted move down would be roughly the $51-$50 range. And obviously if that was to be lost, we could see much lower prices but this could take a month to play out. So if you’re buying puts, make sure you’re giving yourself enough time for price action to set up for more Barash moves
NYSE:OXYShort
by Erictaylor
Occidental Petroleum (NYSE: $OXY) Boost By Berkshire Hathaway!🛢Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
NYSE:OXYLong
by RedHotStocks
2
This is a great time to buy oil ! Trump saysPardon me, but I am not going to care what President Trump says. Regardless of equities, commodities , currencies or indices, it works on a simple equation. That is demand and supply. We already know from various sources that Oil supply now is exorbitant and demand is sorely lacking. Think less air flight ,cruises , coaches, cars, trains , etc that are adversely affected by Covid-19. The more the cities remain lockdown and less people get out to drive, the less demand it is for Oil. So when demand is less than supply, price drop naturally. Many may have known that OXY is one stock owned by Warren Buffett. Though the stock has tanked badly, he is still collecting his 8% dividend from OXY. He is a very smart investor unlike activist Carl Icahn. He increased his stake in OXY and is adamant to change the entire board. Read article here At current price, it is too late to short (peak in 2018 was 88, 2019 was 48) and definitely not a buy for me even some analysts are saying to go contrarian. When in doubt, stay away.....
NYSE:OXY
by dchua1969
2