$oxy, need some oxy to cope the pain dear oxy holders,
i too understand the pain, as i bought the dip today at 51.69.
the monthly 50MA holds at 48.70. if it breaks, time to pop one cus 36 is coming fast.
li lu im watching ur ass
4OXY trade ideas
Occidental Petroleum (OXY) Shares Drop to 2.5-Year LowOccidental Petroleum (OXY) Shares Drop to 2.5-Year Low
Shares of Occidental Petroleum Corporation (OXY), the sixth-largest holding in Warren Buffett’s portfolio, have fallen to their lowest level since April 2022. According to Yahoo Finance, Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum to nearly 30% this summer.
But could Buffett be wrong this time? As the chart shows, OXY shares have reached a 2.5-year low.
Meanwhile, analysts are lowering their price targets for OXY shares:
→ Citigroup cut its target from $65 to $62;
→ Wolfe Research reduced its target from $83 to $82;
→ Susquehanna lowered its target from $81 to $78.
However, technical analysis suggests some reasons for bullish optimism:
→ Drawing an upward channel based on the points indicated by arrows shows that the price is nearing the lower boundary of the channel, which may provide strong support and even lead to a bullish reversal.
→ The lower boundary is further reinforced by the psychological level of $50 per share.
→ The RSI indicator is at levels last seen during the panic of spring 2020, suggesting that Occidental Petroleum (OXY) shares may be oversold and undervalued.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Simple 5% OXY play 1 month chartA simple 5% OXY setup: Triple bottom support on a 1-month chart with Bollinger band constriction, and an oversold RSI indicator.
OXY (Occidental Petroleum) is a strong company with a 1.55% dividend yield and upcoming earnings.
The idea: Enter trade below $57 and exit at or above $60.
$60 is the next upper resistance point and if broken the secondary resistance would be near $65
OXY ShortLooking at an NYSE:OXY short at discount from the swing high, swing low. I marked where I think bears currently have control (where bulls haven't been able to move price past and where bears have been aggressive). I'd like to see slow bullish progression into this area and see the tape heat up as we approach the spot.
OXY LONGOne Pattern Breakout, Looking for second soon. Would like to see $60 too. nice to see analyst target above my target.
Looking bullish immediately on OXY.🔉Sound on!🔉
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OXY is OversoldThe plan for OXY looks really good it’s just not quite ready but I think the upside for a quick day/week is real. OXY needs a few things to happen. RSI needs to come down a bit (red arrow) then reverse, the price needs to hang in the $55-57 range, the MACD needs to turn bright red and or bright green indicating selling pressure is turning around, and oil prices need to start to head back up a bit. My best guess this happens around the 26th, which is where all the green arrows sit. If these conditions are met I will buy some.
Long oxy with majority of portfolioSupport has held once again, for now.
a 3rd failed breakdown suggests that were going higher.
trendline support.
Buffet likes the stock
Li Lu likes the stock
I like the stock
Daily MACD crossed up.
67 in 2 weeks and 125 in 24 months - Long Long Long Long Long I have been beating the table on this stock for the last month. This is the greatest buy in the market considering the crash we are about to slam into.
1. Oxy historically had too much debt. They financed various acquisitions with debt. Their highest profile investor (Warren buffet) happens to control Bank of America. Bank of America is now the oxy lender (I’d love to see the reg O paperwork on this deal) So to say they have favorable finance terms is an understatement. They have been selling off assets to pay down debt as well. They have paid down almost 2.5 billion of debt and another 2 billion will be paid off in the next six months out of cash flow. This will throw almost a billion to the bottom line earnings (12% increase to earnings without doing a damn thing different)
2. They increased their presence in the Permian basin with the purchase of Crown. Crowns operating costs were too high. They needed oil at 80 a barrel to make real money. Oxy needs it around 45. With the purchase, Oxy turned on half of crowns assets. This will throw another billion to the bottom line.
3. Their LNG and chemicals division is growing and as LNG rebounds from the synthetic supply flush from the government , this division will throw off another 500mm in cash.
So earnings should double in the next 18 months. They trade at a P.E of 14. That’s extremely cheap considering their growth profile. Recently the stock has dipped after incredible earnings. That’s because subsidiaries and crown sold off the shares they were given during the acquisitions. The market was flushed with 40mm shares this week priced around 35.
It’s going to snap back up to 67 in the next two weeks. Grab calls now! In 24 months this will be 125.
OxyI don't know what Mr. Buffett's plan is, but I think the price will continue to fall to lower levels.
Huge Inverse Head and ShouldersIf you can't see this on the weekly time frame...
Then you don't have any business making big $$$
in 2025-2026. Even your seeing eye dog would slap
you upside you head for NOT investing in this baby.
Don't worry...everything is playing out just fine over
here in this camp...BAM!
Even a SEEING EYE DOG...If you can't see this on the weekly time frame...
Then you don't have any business making big $$$
in 2025-2026. Even you seeing eye dog would slap
you upside you head for NOT investing in this baby.
Don't worry...everything is playing out just fine over
here in this camp...BAM!
Occidental Staggers Before Big EventsOccidental Petroleum has been rangebound for more than two years, and some traders may worry about potential downside with some big events looming.
The first pattern on today’s chart is the price action after the April 12-June 4 slide. OXY retraced half the decline before rolling over, which may suggest its trend is now lower. The recent drop below $61 could also be interpreted as a bear-flag breakdown.
Next, the 50-day simple moving average (SMA) is in the process of forming a potential “death cross” below the 200-day SMA.
Third, the oil stock tried to clear last year’s high above $69 in April but couldn’t hold. That kind of false breakout is a potentially bearish reversal pattern.
Finally, at least two big events could impact trading. On Thursday, OPEC+ is expected to let production increase as previously announced. Quarterly results follow on August 7.
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Occidental Petroleum Corp | Range Idea | Pre-MarketWithin a 100K Account Balance the split on Trade & Risk Management = 1/10% - 1/20% margin as an Execution Range, to set up an Order Entry and select a per Trade on Average, to avoid any drawdown hit regarding to Stop Loss & to execute Risk on Management Specifics. Trail Stop efforts are a Focus of Attention to the set up in general when Volatile-Price-Action is involved, mainly because of the usage of an Intraday-Scalp-Position tool on behalf on the Trade Plan in general
# POSITION & Risk Reward | 15 Minutes Time Frame
- Measurement on Session
* Retracement | 0.5 & 0.618
* Extension | 0.88 & 1
# POSITION & Risk Reward | 1 Hour Time Frame
- Measurement on Session
* 20 EMA
* 1000 EMA
* Retracement
# TREND | TIME FRAME CONDUCTIVE | 4 Hour Time Frame
- Support & Resistance area 1
- Support & Resistance area 2
- Support & Resistance area 3
- Subdivision & General Trend
- Measurement on Session
* Retracement
* Support & Resistance
* Trade Area | Focus & Motion ahead
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
* Weekend Crypto Session
OXY bullish or nah?Buffet is invested in this name
Above major moving averages with other oil names looking bullish as well.
Nice base and breakout. Today's open needs to hold in order to stay bullish.
OXY trendline breakout - US Stock63.50 above breakout possible
65/66/68 expected to test
21 ema above daily close which gives bullish sign
Occidental Petroleum: Do not Slacken!We still locate the Occidental Petroleum stock in the wave (c). In the next step, it should therefore exceed the resistance at $71.19 to mark the high of the superordinate wave B in turquoise. Subsequently, there should be strong sell-offs.
OXY long ideaOXY:-
As long as the trend line holds OXY should move upwards to
Targets:-$64.10, $68.00
Stop loss:- $58
Oxy update, and my most profitable strategy discussedHere is an update on the OXY chart after oil had its pivot in April. Oxy was my best trade of the year dollar amount wise and I am 6/6 the last 1.5 years on these longer dated call strategies. I like to trade wedges or bull flags on value stocks and or GLD and similar ETFs. This wedge breakout like many I have posted before is my most favored setup, I am currently doing this with CLSK.
1. You layer into a long on a demand zone as the contraction nears its end.
2. You enter on a bottoming stochastic RSI, here I added to the position after the initial bump
3. A new entry zone is noted on a potential breakout on crude oil futures
4. The stock bounced on the 100 EMA, I plan to layer in next week
5. My preferred entry is 4-6 months out likely a 65-70$ strike on calls
Descending Triangle BreakoutOXY broke out yesterday from a down trend line with volume to confirm strong buyer interest. I'm wanting to see a price pullback before I make my long entry.
Buy to open = Around $60
1st profit target = $62.50
Stop Loss = $59.50
OXY updateI expect the price to break above the resistance of 70.65 and goes higher , first to 75 then higher this year.
