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

By Shiri Gupta

Occidental Petroleum (NYSE:OXY) crossed under its 10-day moving average of $75.88 on a volume of 632K shares. This may provide swing traders with 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 $58.24 and are now trading 29% above that low price at $74.99 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

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 16.7%. 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