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

By Amy Schwartz

Occidental Petroleum (NYSE:OXY) shares have crossed bullishly above their 10-day moving average of $60.36 on a volume of 895K 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.

In the past 52 weeks, shares of Occidental Petroleum have traded between a low of $57.20 and a high of $82.02 and are now at $60.62, which is 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

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 12.1%. 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