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Look for Shares of Occidental Pete to Potentially Rebound after Yesterday's 1.55% Sell Off

By James Quinn

Occidental Pete (NYSE:OXY) traded in a range yesterday that spanned from a low of $38.02 to a high of $38.44. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $38.31 on volume of 849,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Occidental Pete have traded between a low of $37.60 and a high of $72.43 and are now at $38.08, which is 1% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.7%.

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