0KAK trade ideas
OXY bullish setup ahead!Mad volume quantity the last six weeks for this one. Reaching it´s bottom at $9, these company has gotten the attention of a lot of investors. At long term any buy below $20 is a steal for this stock.
Yesterday, when the stock went above $12.60, the 5 min bearish trend got broken and closing around $13.60 the bullish setup has a high probability of continue.
I identified the upcoming resistance points at 13.66, 14.70, 15.86, 16.86 and 18.00.
A pullback may be expected for the next week so we have to be cautious if it breaks down 12.30 which is the current bottom of the uptrend channel. Buffet bought shares at a price average of 11.57 so this would be the "Buffet Support", if the price breaks the support we might be seeing 10.50-9.00 range again
Trade Idea:
- Long position at 13.75
- SL: 12.20 (Uptredn Channel break confirmation)
- TP: 18.50 - 19.00
If you swing trade you might want to close and open positions around the resistance/supports.
Occidental Petroleum upside targetsOccidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, natural gas liquids, natural gas, carbon dioxide, and power. The company was founded in 1920 and is headquartered in Houston, TX.
04/17/2020 day trade $13Call 0.15 acurrent position: 04/17/2020 13C at $.015 quantity (10)
current position: 10 shares at 15.51
basically 13.10 is the resistance, i would be amazed if it crosses that.
Lets create some resistance and support levels for reference:
supports: 12.30, 11.76, 11.26, 10.80. anything bellow that, it would be bellow the previous higher lows mentioned bellow. Basically if tomorrow 04/17/2020 it goes bellow 10.80. that would be the ultimate stop loss for me 04/17/2020 13C at $.015 quantity (10)
resistances: 13.10 (ema and tirone said so), 13.50, 14.
NOTE: right now, we are creating a higher low. The previous higher lows were: 04/01/2020 at $10.13, and then a lower low was 03/18/2020 at $8.89. I am suspecting that the lower low has already been formed today 04/16/2020 at $12.18. I would not be surprised at all if it does maintain the after hours price at 13.10 and open around there tomorrow. and create a gap up.
Today, the market was absolutely crazy, all stocks that were going up, continued up: tesla, facebook, spy, after hours, they gapped up. oxy, gapped up as well! it was crazy!
Long OXY DailyOXY have clearly felt the effect of the cut in oil prices as well with the Corona virus. OXY has broken the short term trendline on the daily chart.
Target 1 : $20
Target 2 : $38
Target 3 : $60
Market crashes turn into favorable investment opportunities for value investors.
$OXY Occidental Petroleum Next targets Previous target hit, now looking for Fibonacci 1.618 extension target
Tomorrows OPEC meeting could pump or dump the stock
Occidental Petroleum Corporation (OXY) long.All description on the chart.
Please, don't forget to like and follow.
Thank you.
decision time - which direction will she go?Momentum indicators suggest a follow through in the upswing but the formation of a symmetrical triangle has me wondering which way she'l break.
OXY (SHORT) short term tradeI would like OXY to test the resistance line at $10.10, if it breaks we could potentially see a new low or expect a bounce at the green line.
The oil trade war will only make oil barrel prices drop, currently around $20!
$OXY An Oversold Risk/Reward Play$OXY has caught our attention as it is bouncing off trendline support. Today the company put our an operational update.
Occidental Petroleum Corporation (NYSE: OXY) announced today a further reduction in 2020 capital spending to between $2.7 billion and $2.9 billion from its original 2020 guidance of $5.2 billion to $5.4 billion, a midpoint reduction of 47 percent. At current commodity prices, 2020 annual production from continuing operations is expected to be 1,275,000 to 1,305,000 BOEPD, a reduction of 6 percent compared to prior guidance of 1,360,000 to 1,390,000 BOEPD.
The Company also announced it will reduce 2020 operating and corporate costs by at least $600 million compared to the original 2020 plan, including significant salary reductions for executive leadership. These cost reductions are in addition to previously announced operating and overhead synergies of $1.1 billion that are expected to be fully realized in 2020. The combination of synergy realizations and additional cost reductions is expected to reduce SG&A, Other Operating Expense, and Exploration Overhead to approximately $500 million on a future quarterly run-rate basis. Operating cost reductions are expected to lower 2020 domestic operating costs to approximately $7.00 per BOE.
"We are making solid progress with additional cost reductions to help withstand the low commodity price environment and other macroeconomic pressures impacting our industry and the global economy," said President and Chief Executive Officer Vicki Hollub. "Based on our team's recent efforts, we now expect to significantly lower our costs in all aspects of the business. We will continue to take actions as necessary to further strengthen our balance sheet and ensure the long-term viability of our business."
As always, trade with caution and good luck to all!
Accumulation on Occidental?You can only hold oil down for so long. I’m expecting this to accumulate over the virus stall, but as soon as the economic activity returns, I expect this to go back up. This low is from the 1990s, it’s been a long time since it was this cheap.
Oil ComparisonsOXY has the majority of its EV tied up in oil/gas and with the recent OPEC fallout it may make sense as a long.
More research on extraction costs should probably be done because there may be a serious problem for the firm if oil prices are kept low and operations are not profitable. A minor portion of noncurrent assets is in chemicals and marketing but not enough to say it will determine where the firm will go in terms of price.
Carl Icahn increased his stake to 10% but this may have been more of averaging down his position since he originally entered near ~$60 a share or in that region so buying in at around $14 a share would mean more control in the firm for less of an investment.
Short term I expect dividends to be slashed, I will be very surprised if they post net profit at the next earnings as the oil price shock should have killed their margins.
Intermediate to long term, potentially an acquisition target for and XOM or CVX (my guess is CVX because of the Andarko swipe) but it's hard for me to see what else bad can come out for the firm. Oil prices being slashed is likely the worst possible thing and with the coronavirus disrupting trade it really makes sense for OPEC to collude in order to fund government aid. Saudi Arabia/Russia don't have too much of a problem with the outbreak but with decreases in travel and commerce due to governmental bans externalities may force both back to the table.
Or at the least create a stronger incentive for collusion as both will have a need to financing
A massive opportunity with Occidental PetroleumFundamentals got dented since last time I looked at this stock; however, I believe there is just a massive buying opportunity here. I am damn proud of how I labelled the structure. The count is hot from the press, and I did not sit on it, so further updates and fine-tuning is possible. Please do shout if you see that I violated any EW rule. Always helpful. Your occasional comments, alternative views about EW technique is the way I learn.
Occidental Petroleum Corp. Oversold Bounce Potential $oxy
Average analysts price target $48 overweight
Yield 9.65%
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls. The Midstream & Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, natural gas liquids, natural gas, carbon dioxide and power. It also trades around its assets, including transportation and storage capacity. The company was founded in 1920 and is headquartered in Houston, TX.
Need to break 44.46, if not back to 36Er around the corner right at resistance din manage to break, need to clear 44.46 to continue uptrend if not back to 36, go long if it hit 36
Long OXYMacro: Inflation accelerating as indicated by 3 month positive beta on WTI & TRJEFFCRB against 3 month negative beta on DXY, coupled with production in Permian basin decelerating on a sequential rate of change basis
Technical: Bullish MACD and RSI divergences, coupled with price action having 3 month secant > 3 month tangent. Entry price of $42.22 with price target of $52 and stop loss of $40.
