Exploring the financial indicators and market behaviors of Occidental Petroleum Corporation (OXY) and Diamondback Energy, Inc. (FANG) offers crucial insights for investors looking to optimize their investment strategies in the energy sector. This analysis highlights the strengths and weaknesses of these companies, guiding investors towards making informed...
OXY is defending a major support once again after completing a bullish shark 2 months ago.
We are bullish on US Oil already and these stocks are looking ready also.
Bullish convergence at a major support level with a completed type 2 Bullish Shark.
OXY and oil in general have been on a major upswing these last few weeks. This wedge I have been following for a while looks to be doing the retest on a breakout here. I have a moderate sized position in Jan 70$ calls for this wedge setup
- My first target is marked with dashed green at 65$
- My target for the year remains 74$
OXY is testing a breakout here on the daily, it looks a little less powerful on the weekly but the wick has attempted. After the stock once again sipped from the demand zone will this finally be the breakout. With oil likely bottomed OXY is poised for my price targets.
-65$ short term
-74$ on the yearly
-This is one of my core positions for the long-term...
The daily chart sees rising lows and a nice box above the ema 50.
The ema 21 is coming to create a bullish crossover that will be confirmed in case of breakout of the box.
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 60/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our...
If you haven`t bought OXY before the last run:
Then analyzing the options chain and the chart patterns of OXY Occidental Petroleum prior to the earnings report this week,
I would consider purchasing the 60usd strike price Calls with
an expiration date of 2024-5-17,
for a premium of approximately $2.32.
If these options prove to be profitable prior to the...
To be successful on Wall Street, it is important to be flexible and be able to recognize changing market winds - the patterns that tell investors when to get in and out of the market.
Sometimes a breeze is a warm and inviting wind: assets rise in value, and it seems that everyone is making money.
Other times, it turns into a violent storm, leaving in its wake...
This is a second expansion of my daily Oxy chart. When zoomed out this far the stock looks incredibly bullish. We are about to see an expansion of the monthly stochastic and a wedge contraction + potential breakout. 66-74$ this year imo.
This chart is an expansion on my daily chart so users can see the weekly contraction of price, bullish indeed. my short term target of 60.8 remains with a longer term target of the golden fib around 66$.
OXY had solid earnings and oil appears to have bottomed recently. With tech in the heavens for valuations, value stocks will eventually have their day. I have been averaging into 70$ jan 2024 calls for a few weeks any time the price is 56-57$. I plan on holdings these for most of the year as my oil exposure. This stochastic and price action contraction is some of...
Oxy in contraction on both Stochastic RSI and price action and sipping on the demand zone. With oil likely close to a bottom I am starting to average into yearly calls. I am bullish on oil as a whole here, this is a safer longer term play than RIG imo.
Oxy is a stock that warren buffet hyped up last year, this is an old school company that has an impressive business track record. I believe it will perform this year, after a long consolidation and multiple retests of this 56-58$ region I forsee it breaking out this year like my AVUV chart I published. Remember, the longer the consolidation, the stronger the pump...
OXY is currently coming down to test a support line that has held for two years. Pretty good risk/reward spot for a bounce. Stop loss would be just under $55. Targets would be a $5-$7 bounce.
OXY is testing two important lines. The medium term trend from covid reopening and the bottom support of a large wedge. If these levels are broken to the downside I'd expect a crash from current oversold conditions within the next few months. This would coincide with rates falling off even further and unemployment rising.
However, the weekly and daily stochastic...
triple top rejection/trend support broken in 2022, lower highs and trend resistance rejections since then.
also low volume and no signs of interest from any long, I will not be surprised to see a slow drop to 51.40-42.92 from here 🎯
