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After Yesterday's Rally of 1.23% Shares Could Potentially Pullback

By Amy Schwartz

Occidental Pete (NYSE:OXY) traded in a range yesterday that spanned from a low of $59.97 to a high of $60.73. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $59.92 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Occidental Pete share prices have moved between a 52-week high of $78.48 and a 52-week low of $57.20 and are now trading 6% above that low price at $60.47 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Occidental Pete and will alert subscribers who have OXY in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders occidental pete

Ticker(s): OXY