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

By Nick Russo

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.

In the past 52 weeks, Occidental Pete share prices have been bracketed by a low of $9.00 and a high of $55.01 and are now at $13.32, 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 6.6% while the 200-day MA has slid 1.5%.

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