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Occidental Petroleum Crosses Above its 10-day MA (OXY)

By Amy Schwartz

Today, shares of Occidental Petroleum (NYSE:OXY) have advanced above their 10-day MA of $75.83 on a volume of 652K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Occidental Petroleum has traded in a range of $58.24 to $82.02 and is now at $76.47, 31% above that low. 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 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 15.2%. 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