OCCIDENTAL PETROLEUM - 1H - Technical analysis published on 06/24/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
56%
0%
44%
My opinion
Bearish under 58.05 USD
My targets
54.32 USD (-4.89%)
51.48 USD (-9.86%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 58.05 USD remains possible. It is advisable to trade OCCIDENTAL PETROLEUM with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 58.05 USD. The next bearish objective for sellers is set at 54.32 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 51.48 USD. In case of crossing, the next objective would be the support located at 45.36 USD. PS: if there is a bullish break in the resistance located at 58.05 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.4
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This analysis was given by rbrittonbrownjr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OCCIDENTAL PETROLEUM rating is 57.11 USD. The price has increased by +1.82% since the last closing and was between 56.80 USD and 58.00 USD. This implies that the price is at +0.55% from its lowest and at -1.53% from its highest.56.80
58.00
57.11
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of OCCIDENTAL PETROLEUM indicates that the overall trend is bearish. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 45.36 | 51.48 | 54.32 | 57.11 | 61.35 | 63.39 | 68.10 |
| Change (%) | -20.57% | -9.86% | -4.89% | - | +7.42% | +11.00% | +19.24% |
| Change | -11.75 | -5.63 | -2.79 | - | +4.24 | +6.28 | +10.99 |
| Level | Intermediate | Major | Intermediate | - | Minor | Major | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51.22 | 53.08 | 54.58 | 56.44 | 57.94 | 59.80 | 61.30 |
| Camarilla | 55.17 | 55.47 | 55.78 | 56.09 | 56.40 | 56.71 | 57.01 |
| Woodie | 51.05 | 52.99 | 54.41 | 56.35 | 57.77 | 59.71 | 61.13 |
| Fibonacci | 53.08 | 54.36 | 55.15 | 56.44 | 57.72 | 58.51 | 59.80 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42.21 | 48.28 | 51.98 | 58.05 | 61.75 | 67.82 | 71.52 |
| Camarilla | 52.99 | 53.89 | 54.78 | 55.68 | 56.58 | 57.47 | 58.37 |
| Woodie | 41.03 | 47.69 | 50.80 | 57.46 | 60.57 | 67.23 | 70.34 |
| Fibonacci | 48.28 | 52.01 | 54.32 | 58.05 | 61.78 | 64.09 | 67.82 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 37.34 | 45.59 | 57.39 | 65.64 | 77.44 | 85.69 | 97.49 |
| Camarilla | 63.67 | 65.50 | 67.34 | 69.18 | 71.02 | 72.86 | 74.69 |
| Woodie | 39.11 | 46.48 | 59.16 | 66.53 | 79.21 | 86.58 | 99.26 |
| Fibonacci | 45.59 | 53.25 | 57.98 | 65.64 | 73.30 | 78.03 | 85.69 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 52.22 | |
| MACD (12,26,9): | -0.4700 | |
| Directional Movement: | 7.50 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 55.69 | |
| Parabolic SAR (0,02-0,02-0,2): | 54.83 | |
| Elder Ray (13): | 1.14 | |
| Super Trend (3,10): | 58.97 | |
| Zig ZAG (10): | 57.50 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 48.90 | |
| TEMA (21): | 56.17 | |
| Williams %R (14): | -27.41 | |
| Chande Momentum Oscillator (20): | 1.87 | |
| Repulse (5,40,3): | -0.7100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 2.48 |
| MA7: | 57.12 | |
| MA20: | 63.89 | |
| MA50: | 62.02 | |
| MA100: | 56.05 | |
| MAexp7: | 56.25 | |
| MAexp20: | 56.42 | |
| MAexp50: | 58.20 | |
| MAexp100: | 60.73 | |
| Price / MA7: | -0.02% | |
| Price / MA20: | -10.61% | |
| Price / MA50: | -7.92% | |
| Price / MA100: | +1.89% | |
| Price / MAexp7: | +1.53% | |
| Price / MAexp20: | +1.22% | |
| Price / MAexp50: | -1.87% | |
| Price / MAexp100: | -5.96% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The latest news and videos published on OCCIDENTAL PETROLEUM at the time of the analysis were as follows:
- Thinking about trading options or stock in Occidental Petroleum, Zoom Video Communications, Spirit Airlines, Nio, or Carnival Corp?
-
Occidental Petroleum Corporation - OXY Stock Chart Technical Analysis for 06-08-2020
- The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Occidental Petroleum Corporation Investors (OXY)
- INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Occidental Petroleum Corporation (OXY) on Behalf of Noteholders
-
Occidental Petroleum Corporation - OXY Stock Chart Technical Analysis for 05-06-2020
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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