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Occidental Pete Falls 4.45% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Occidental Pete (NYSE:OXY) traded in a range yesterday that spanned from a low of $66.42 to a high of $68.55. Yesterday, the shares fell 4.4%, which took the trading range below the 3-day low of $68.80 on volume of 2.0 million 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 $62.47 and a high of $87.67 and are now at $66.57, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.

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