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After Yesterday's Decline of 7.61%, Occidental Pete Offers Investors Better Value

By Amy Schwartz

Occidental Pete (NYSE:OXY) traded in a range yesterday that spanned from a low of $13.65 to a high of $14.65. Yesterday, the shares fell 7.6%, which took the trading range below the 3-day low of $14.10 on volume of 20.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Occidental Pete share prices have moved between a 52-week high of $55.01 and a 52-week low of $9.00 and are now trading 48% above that low price at $13.32 per share. The 200-day and 50-day moving averages have moved 1.53% lower and 6.59% lower over the past week, respectively.

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.

Keywords: rebounders occidental pete

Ticker(s): OXY