When (OXY) Moves Investors should Listen
August 09, 2024, 11:34 am ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for OXY
- Buy OXY slightly over 57.24 target 61.51 stop loss @ 57.07 Details
The technical summary data tells us to buy OXY near 57.24 with an upside target of 61.51. This data also tells us to set a stop loss @ 57.07 to protect against excessive loss in case the stock begins to move against the trade. 57.24 is the first level of support below 58.17 , and by rule, any test of support is a buy signal. In this case, support 57.24 would be being tested, so a buy signal would exist.
- Short OXY slightly under 61.51, target 57.24, stop loss @ 61.69 Details
The technical summary data is suggesting a short of OXY as it gets near 61.51 with a downside target of 57.24. We should have a stop loss in place at 61.69though. 61.51 is the first level of resistance above 58.17, and by rule, any test of resistance is a short signal. In this case, if resistance 61.51 is being tested, so a short signal would exist.
Swing Trading Plans for OXY
- Buy OXY slightly over 61.51, target 65.97, Stop Loss @ 61.33 Details
If 61.51 begins to break higher, the technical summary data tells us to buy OXY just slightly over 61.51, with an upside target of 65.97. The data also tells us to set a stop loss @ 61.33 in case the stock turns against the trade. 61.51 is the first level of resistance above 58.17, and by rule, any break above resistance is a buy signal. In this case, 61.51, 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 61.51, target 57.92, Stop Loss @ 61.69. Details
The technical summary data is suggesting a short of OXY if it tests 61.51 with a downside target of 57.92. We should have a stop loss in place at 61.69 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, 61.51, 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 58.65, target 61.51, Stop Loss @ 58.51 Details
If 58.65 begins to break higher, the technical summary data tells us to buy OXY just slightly over 58.65, with an upside target of 61.51. The data also tells us to set a stop loss @ 58.51 in case the stock turns against the trade. 58.65 is the first level of resistance above 58.17, and by rule, any break above resistance is a buy signal. In this case, 58.65, 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 58.65, target 57.92, Stop Loss @ 58.79. Details
The technical summary data is suggesting a short of OXY if it tests 58.65 with a downside target of 57.92. We should have a stop loss in place at 58.79 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, 58.65, 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 August 09:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
57.24 |
| P2 |
56.89 |
55.18 |
61.51 |
| P3 |
58.65 |
57.92 |
65.97 |
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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