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

By David Diaz

Today, shares of Occidental Petroleum (NYSE:OXY) have fallen below their 10-day MA of $60.69 on a volume of 570K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower 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 5% above that low price at $60.14 per share. The 200-day and 50-day moving averages have moved 0.12% higher and 0.61% higher over the past week, respectively.

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 10.4%. 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