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Occidental Petroleum Set to Possibly Pullback After Yesterday's Rally of 3.76%

By Nick Russo

Occidental Petroleum (NYSE:OXY) traded in a range yesterday that spanned from a low of $72.97 to a high of $75.30. Yesterday, the shares gained 3.8%, which took the trading range above the 3-day high of $74.60 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Occidental Petroleum share prices have been bracketed by a low of $58.24 and a high of $82.02 and are now at $75.19, 29% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 0.61% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Occidental Petroleum and will alert subscribers who have OXY in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Occidental Petroleum

Ticker(s): OXY