Trading Occidental Petroleum $OXY With Integrated Risk Controls

March 08, 2023, 07:57 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Occidental Petroleum (NYSE: OXY) report below can help you, but we have more details too. The trading plans for OXY, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for OXY

• Buy OXY slightly over 62.05 target 70.50 stop loss @ 61.87 Details

The technical summary data tells us to buy OXY near 62.05 with an upside target of 70.50. This data also tells us to set a stop loss @ 61.87 to protect against excessive loss in case the stock begins to move against the trade. 62.05 is the first level of support below 62.7 , and by rule, any test of support is a buy signal. In this case, support 62.05 would be being tested, so a buy signal would exist.

• Short OXY slightly under 70.50, target 62.05, stop loss @ 70.7 Details

The technical summary data is suggesting a short of OXY as it gets near 70.50 with a downside target of 62.05. We should have a stop loss in place at 70.7though. 70.50 is the first level of resistance above 62.7, and by rule, any test of resistance is a short signal. In this case, if resistance 70.50 is being tested, so a short signal would exist.

Swing Trading Plans for OXY

• Buy OXY slightly over 70.50, target 79.62, Stop Loss @ 70.3 Details

If 70.50 begins to break higher, the technical summary data tells us to buy OXY just slightly over 70.50, with an upside target of 79.62. The data also tells us to set a stop loss @ 70.3 in case the stock turns against the trade. 70.50 is the first level of resistance above 62.7, and by rule, any break above resistance is a buy signal. In this case, 70.50, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short OXY slightly near 70.50, target 62.05, Stop Loss @ 70.7. Details

The technical summary data is suggesting a short of OXY if it tests 70.50 with a downside target of 62.05. We should have a stop loss in place at 70.7 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 70.50, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for OXY

• Buy OXY slightly over 70.50, target 79.62, Stop Loss @ 70.34 Details

If 70.50 begins to break higher, the technical summary data tells us to buy OXY just slightly over 70.50, with an upside target of 79.62. The data also tells us to set a stop loss @ 70.34 in case the stock turns against the trade. 70.50 is the first level of resistance above 62.7, and by rule, any break above resistance is a buy signal. In this case, 70.50, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short OXY slightly near 70.50, target 62.15, Stop Loss @ 70.66. Details

The technical summary data is suggesting a short of OXY if it tests 70.50 with a downside target of 62.15. We should have a stop loss in place at 70.66 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 70.50, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

OXY Ratings for March 08:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Strong
P1	0	0	62.05
P2	61.14	58.02	70.50
P3	62.15	61.54	79.62

Support and Resistance Plot Chart for OXY

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