OCCIDENTAL PETROLEUM - Daily - Technical analysis published on 09/16/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
78%
6%
17%
My opinion
Bullish above 47.43 USD
My targets
53.17 USD (+11.00%)
57.86 USD (+20.79%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for OCCIDENTAL PETROLEUM as long as the price remains well above 47.43 USD. The buyers” bullish objective is set at 53.17 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 57.86 USD. If there is any crossing, the next objective would be the resistance located at 68.54 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 53.17 USD. On this resistance, against the trend traders who would like to go short on OCCIDENTAL PETROLEUM with a bearish signal from their trading strategy, should not hesitate to act.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
2.7
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This analysis was given by emerick. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OCCIDENTAL PETROLEUM price is 47.90 USD. The price has increased by +6.23% since the last closing with the lowest point at 47.38 USD and the highest point at 48.85 USD. The deviation from the price is +1.10% for the low point and -1.94% for the high point.47.38
48.85
47.90
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of OCCIDENTAL PETROLEUM in Daily shows an overall slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 14 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S2
S1
R1
R2
R3
Price
S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|
ProTrendLines | 40.72 | 47.43 | 47.90 | 53.17 | 57.86 | 68.54 |
Change (%) | -14.99% | -0.98% | - | +11.00% | +20.79% | +43.09% |
Change | -7.18 | -0.47 | - | +5.27 | +9.96 | +20.64 |
Level | Major | Intermediate | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 43.13 | 44.04 | 44.57 | 45.48 | 46.01 | 46.92 | 47.45 |
Camarilla | 44.69 | 44.83 | 44.96 | 45.09 | 45.22 | 45.35 | 45.49 |
Woodie | 42.93 | 43.95 | 44.37 | 45.39 | 45.81 | 46.83 | 47.25 |
Fibonacci | 44.04 | 44.59 | 44.93 | 45.48 | 46.03 | 46.37 | 46.92 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 41.75 | 43.14 | 44.12 | 45.51 | 46.48 | 47.87 | 48.85 |
Camarilla | 44.44 | 44.66 | 44.87 | 45.09 | 45.31 | 45.52 | 45.74 |
Woodie | 41.54 | 43.04 | 43.91 | 45.40 | 46.27 | 47.77 | 48.64 |
Fibonacci | 43.14 | 44.05 | 44.60 | 45.51 | 46.41 | 46.97 | 47.87 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 26.16 | 33.62 | 38.17 | 45.63 | 50.18 | 57.64 | 62.19 |
Camarilla | 39.41 | 40.51 | 41.61 | 42.72 | 43.82 | 44.92 | 46.02 |
Woodie | 24.70 | 32.90 | 36.71 | 44.90 | 48.72 | 56.91 | 60.73 |
Fibonacci | 33.62 | 38.21 | 41.05 | 45.63 | 50.22 | 53.06 | 57.64 |
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): | 62.42 | |
MACD (12,26,9): | 0.0400 | |
Directional Movement: | 18.00 | |
AROON (14): | 92.86 | |
DEMA (21): | 44.62 | |
Parabolic SAR (0,02-0,02-0,2): | 43.30 | |
Elder Ray (13): | 3.03 | |
Super Trend (3,10): | 43.51 | |
Zig ZAG (10): | 47.91 | |
VORTEX (21): | 1.0300 | |
Stochastique (14,3,5): | 76.85 | |
TEMA (21): | 45.68 | |
Williams %R (14): | -11.98 | |
Chande Momentum Oscillator (20): | 5.57 | |
Repulse (5,40,3): | -1.9000 | |
ROCnROLL: | 1 | |
TRIX (15,9): | -0.2300 | |
Courbe Coppock: | 13.46 |
MA7: | 45.82 | |
MA20: | 43.98 | |
MA50: | 46.79 | |
MA100: | 49.01 | |
MAexp7: | 45.76 | |
MAexp20: | 44.96 | |
MAexp50: | 46.39 | |
MAexp100: | 49.54 | |
Price / MA7: | +4.54% | |
Price / MA20: | +8.91% | |
Price / MA50: | +2.37% | |
Price / MA100: | -2.26% | |
Price / MAexp7: | +4.68% | |
Price / MAexp20: | +6.54% | |
Price / MAexp50: | +3.26% | |
Price / MAexp100: | -3.31% |
News
Don"t forget to follow the news on OCCIDENTAL PETROLEUM. At the time of publication of this analysis, the latest news was as follows:
- Occidental Announces Final Results in its Offers to Exchange Twenty-Three Series of Notes Issued by Anadarko Petroleum Corporation, Anadarko Holding Company, Anadarko Finance Company and Kerr-McGee Corporation For Occidental Notes
- Occidental Announces Results of Early Tenders in its Offers to Exchange Twenty-Three Series of Notes Issued by Anadarko Petroleum Corporation, Anadarko Holding Company, Anadarko Finance Company and Kerr-McGee Corporation for Occidental Notes
- Thinking about trading options or stock in Broadcom, Biohaven Pharmaceutical, Lyft, Occidental Petroleum, or Tesla?
- Occidental Petroleum CFO Cedric Burgher to be Keynote Speaker on Day One of The Oil & Gas Conference® 2019
- InvestorsObserver releases stock and option data on Apple, Canopy Growth, Dropbox, NVIDIA, and Occidental Petroleum
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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