OCCIDENTAL PETROLEUM
OCCIDENTAL PETROLEUM
- USD (-)
- 15 min delayed data - NYSE Stocks
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Type: Stocks
Ticker: OXY
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OCCIDENTAL PETROLEUM - Daily - Technical analysis published on 09/16/2019 (GMT)

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  • Timeframe : Daily
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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

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by emerick. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

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.

Central Gaps

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:

Central Indicators

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

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:

Central Patterns

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


S2S1PriceR1R2R3
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
Standard43.1344.0444.5745.4846.0146.9247.45
Camarilla44.6944.8344.9645.0945.2245.3545.49
Woodie42.9343.9544.3745.3945.8146.8347.25
Fibonacci44.0444.5944.9345.4846.0346.3746.92


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard41.7543.1444.1245.5146.4847.8748.85
Camarilla44.4444.6644.8745.0945.3145.5245.74
Woodie41.5443.0443.9145.4046.2747.7748.64
Fibonacci43.1444.0544.6045.5146.4146.9747.87


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard26.1633.6238.1745.6350.1857.6462.19
Camarilla39.4140.5141.6142.7243.8244.9246.02
Woodie24.7032.9036.7144.9048.7256.9160.73
Fibonacci33.6238.2141.0545.6350.2253.0657.64

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%

This member declared not having a position on this financial instrument or a related financial instrument.

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