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SmarTrend Watching for Potential Pullback in Shares of Occidental Pete After 16.08% Gain

By Shiri Gupta

Occidental Pete (NYSE:OXY) traded in a range yesterday that spanned from a low of $12.00 to a high of $13.83. Yesterday, the shares gained 16.1%, which took the trading range above the 3-day high of $11.18 on volume of 42.3 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 recommended that its subscribers protect gains by selling shares of Occidental Pete on January 22nd, 2020 by issuing a Downtrend alert when the shares were trading at $43.46. Since that call, shares of Occidental Pete have fallen 72.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Occidental Pete share prices have moved between a 52-week high of $68.83 and a 52-week low of $9.00 and are now trading 62% above that low price at $14.54 per share. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 6.1%.

Keywords: rebounders occidental pete

Ticker(s): OXY