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Occidental Petroleum Bearish Moving Average Crossover Alert (OXY)

By Amy Schwartz

Occidental Petroleum (NYSE:OXY) crossed under its 10-day moving average of $60.47 on a volume of 789K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Occidental Petroleum share prices have been bracketed by a low of $57.20 and a high of $82.02 and are now at $60.21, 5% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Occidental Petroleum on January 23rd, 2017 by issuing a Downtrend alert when the shares were trading at $68.12. Since that call, shares of Occidental Petroleum have fallen 10.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Occidental Petroleum

Ticker(s): OXY