The stock has been experiencing a period of consolidation with a ranging price action for some time. Simultaneously, the entire US market appears to be at risk of a significant sell-off. Given this situation, it is prudent to maintain some cash positions. Therefore, the most logical course of action at this point is to sell stocks that are nearing their target levels.
In the case of OXY, it is currently at a critical juncture, considering the parallel channel within which it has been trading. Consequently, we have decided to close our position in this stock.
Should the price retrace back to the lower boundary of the channel, we will evaluate the possibility of re-entering the position, taking into account the overall sentiment in the market.
At present, we have realized a profit of 11.15% in this particular stock.
In the case of OXY, it is currently at a critical juncture, considering the parallel channel within which it has been trading. Consequently, we have decided to close our position in this stock.
Should the price retrace back to the lower boundary of the channel, we will evaluate the possibility of re-entering the position, taking into account the overall sentiment in the market.
At present, we have realized a profit of 11.15% in this particular stock.
