• Return to Headlines

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

By Nick Russo

Today, shares of Occidental Petroleum (NYSE:OXY) have advanced above their 10-day MA of $75.76 on a volume of 743K shares. Swing traders may find 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 $75.87 per share. 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 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 15.5%. 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