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Look for Shares of Occidental Pete to Potentially Pullback after Yesterday's 1.31% Rise

By Shiri Gupta

Occidental Pete (NYSE:OXY) traded in a range yesterday that spanned from a low of $48.14 to a high of $49.59. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $49.29 on volume of 3.7 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 $86.76 and a 52-week low of $47.00 and are now trading 5% above that low price at $49.44 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.8% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Occidental Pete on February 8th, 2019 by issuing a Downtrend alert when the shares were trading at $64.18. Since that call, shares of Occidental Pete have fallen 24.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders occidental pete

Ticker(s): OXY