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Bullish Moving Average Cross by Occidental Petroleum (OXY)

By Shiri Gupta

Today, shares of Occidental Petroleum (NYSE:OXY) have crossed bullishly above their 10-day moving average of $75.61 on a volume of 576K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Occidental Petroleum share prices have moved between a 52-week high of $82.02 and a 52-week low of $58.24 and are now trading 30% above that low price at $75.80 per share. The 200-day and 50-day moving averages have moved 0.12% higher and 0.61% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Occidental Petroleum on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.42. Since that recommendation, shares of Occidental Petroleum have risen 14.4%. We continue to monitor OXY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Occidental Petroleum

Ticker(s): OXY