When (OXY) Moves Investors should Listen
September 17, 2024, 00:46 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for OXY
- NONE. Details
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
- Short OXY slightly under 54.22, target n/a, stop loss @ 54.38 Details
The technical summary data is suggesting a short of OXY as it gets near 54.22, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 54.38. 54.22 is the first level of resistance above 51.29, and by rule, any test of resistance is a short signal. In this case, if resistance 54.22 is being tested, so a short signal would exist.
Swing Trading Plans for OXY
- Buy OXY slightly over 54.22, target 59.04, Stop Loss @ 54.06 Details
If 54.22 begins to break higher, the technical summary data tells us to buy OXY just slightly over 54.22, with an upside target of 59.04. The data also tells us to set a stop loss @ 54.06 in case the stock turns against the trade. 54.22 is the first level of resistance above 51.29, and by rule, any break above resistance is a buy signal. In this case, 54.22, 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 54.22, target 50.57, Stop Loss @ 54.38. Details
The technical summary data is suggesting a short of OXY if it tests 54.22 with a downside target of 50.57. We should have a stop loss in place at 54.38 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, 54.22, 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 51.57, target 54.22, Stop Loss @ 51.45 Details
If 51.57 begins to break higher, the technical summary data tells us to buy OXY just slightly over 51.57, with an upside target of 54.22. The data also tells us to set a stop loss @ 51.45 in case the stock turns against the trade. 51.57 is the first level of resistance above 51.29, and by rule, any break above resistance is a buy signal. In this case, 51.57, 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 51.57, target 50.81, Stop Loss @ 51.69. Details
The technical summary data is suggesting a short of OXY if it tests 51.57 with a downside target of 50.81. We should have a stop loss in place at 51.69 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, 51.57, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Occidental Petroleum Corporation (OXY) available here: OXY.
OXY Ratings for September 17:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Weak |
Neutral |
| P1 |
0 |
0 |
54.22 |
| P2 |
50.81 |
48.65 |
59.04 |
| P3 |
51.57 |
50.57 |
64.02 |
AI Generated Signals for OXY
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Occidental Petroleum Corporation (NYSE: OXY) report below is a real world example. Included are trading plans for OXY, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for OXY:
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