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Occidental Pete (OXY) Breaks Through Resistance at $60.03

By Shiri Gupta

Shares of Occidental Pete (NYSE:OXY) opened today above their pivot of $59.72 and have already reached the first level of resistance at $60.03. Should the shares continue to rise, the resistance pivots of $60.23 and $60.74 will be of interest.

Occidental Pete has overhead space with shares priced $59.90, or 13.5% below the average consensus analyst price target of $69.23. The stock should find initial resistance at its 200-day moving average (MA) of $69.95 and further resistance at its 50-day MA of $71.33.

In the past 52 weeks, shares of Occidental Pete have traded between a low of $57.20 and a high of $78.48 and are now at $59.90, which is 5% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Occidental Pete on January 23rd, 2017 by issuing a Downtrend alert when the shares were trading at $68.12. Since that call, shares of Occidental Pete have fallen 12.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts occidental pete

Ticker(s): OXY