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

By David Diaz

Occidental Petroleum (NYSE:OXY) shares have crossed bullishly above their 10-day moving average of $60.71 on a volume of 991K 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.

Occidental Petroleum share prices have moved between a 52-week high of $82.02 and a 52-week low of $57.20 and are now trading 7% above that low price at $60.99 per share. Over the past week, 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 11.5%. 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