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After Yesterday's Rally of 1.34% Shares Could Potentially Pullback

By Nick Russo

Occidental Petroleum (NYSE:OXY) traded in a range yesterday that spanned from a low of $60.55 to a high of $61.55. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $61.24 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 11.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Occidental Petroleum has traded in a range of $57.20 to $82.02 and is now at $61.44, 7% above that low. The 200-day and 50-day moving averages have moved 0.12% higher and 0.61% higher over the past week, respectively.

Keywords: rebounders Occidental Petroleum

Ticker(s): OXY