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SmarTrend Watching for Potential Pullback in Shares of Occidental Pete After 1.23% Gain

By Nick Russo

Occidental Pete (NYSE:OXY) traded in a range yesterday that spanned from a low of $59.97 to a high of $60.73. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $59.92 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

In the past 52 weeks, Occidental Pete share prices have been bracketed by a low of $57.20 and a high of $78.48 and are now at $60.47, 6% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Keywords: rebounders occidental pete

Ticker(s): OXY