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SmarTrend Watching for Potential Pullback in Shares of Occidental Petroleum After 3.76% Gain

By James Quinn

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.

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.

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

Keywords: rebounders Occidental Petroleum

Ticker(s): OXY