The Occidental Petroleum (NYSE: OXY) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for OXY, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
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Long Term Trading Plans for OXY
May 19, 2019, 4:15 am ET
The Technical Summary and Trading Plans for OXY help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this OXY Report.
OXY - (Long) Support Plan
The technical summary data tells us to buy OXY near 50.45 with an upside target of 58.97. This data also tells us to set a stop loss @ 50.19 to protect against excessive loss in case the stock begins to move against the trade. 50.45 is the first level of support below 52.76 , and by rule, any test of support is a buy signal. In this case, support 50.45 would be being tested, so a buy signal would exist.
OXY - (Short) Resistance Plan
The technical summary data is suggesting a short of OXY as it gets near 58.97 with a downside target of 50.45. We should have a stop loss in place at 59.23 though. 58.97 is the first level of resistance above 52.76, and by rule, any test of resistance is a short signal. In this case, if resistance 58.97 is being tested, so a short signal would exist.