Occidental Petroleum Crosses Below its 10-day MA (OXY)
Today, shares of Occidental Petroleum (NYSE:OXY) have fallen below their 10-day MA of $74.12 on a volume of 807K shares. This may provide short-term investors a chance 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 $58.24 and a high of $82.02 and are now at $73.86, 27% 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 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 13.5%. 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