OCCIDENTAL PETROLEUM

- USD (-)

- 15 min delayed data - NYSE Stocks

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Type:	Stocks
Ticker:	OXY
ISIN:

OCCIDENTAL PETROLEUM - Weekly - Technical analysis published on 06/24/2022 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Strongly bullish

Technical indicators

17%

44%

39%

My opinion

Bullish above 51.48 USD

My targets

63.39 USD (+11.00%)

73.93 USD (+29.45%)

My analysis

The basic bullish trend is very strong on OCCIDENTAL PETROLEUM but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 51.48 USD. Crossing the first resistance at 63.39 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 73.93 USD as an objective. Crossing it would then enable buyers to target 79.00 USD. Caution, a return to below 51.48 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.

Force

3.4

Comment on the analysis

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 rbrittonbrownjr. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

OCCIDENTAL PETROLEUM rating 57.11 USD. The price is up +2.57% over 5 days and was traded between 54.30 USD and 58.74 USD over the period. The price is currently at +5.17% from its lowest point and -2.77% from its highest point.

54.30

58.74

57.11

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner for higher/lower results shows an item:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Weekly of this OCCIDENTAL PETROLEUM chart shows a strongly bullish trend. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	30.56	45.36	51.48	57.11	63.39	73.93	79.00
Change (%)	-46.49%	-20.57%	-9.86%	-	+11.00%	+29.45%	+38.33%
Change	-26.55	-11.75	-5.63	-	+6.28	+16.82	+21.89
Level	Major	Intermediate	Major	-	Major	Intermediate	Intermediate

Attention could also be paid to pivot points to set price objectives:

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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	53.48
MACD (12,26,9):	6.3500
Directional Movement:	7.49
AROON (14):	35.71
DEMA (21):	65.16
Parabolic SAR (0,02-0,02-0,2):	73.51
Elder Ray (13):	-2.92
Super Trend (3,10):	50.67
Zig ZAG (10):	56.09
VORTEX (21):	1.1400
Stochastique (14,3,5):	32.00
TEMA (21):	66.01
Williams %R (14):	-79.26
Chande Momentum Oscillator (20):	-1.91
Repulse (5,40,3):	-16.5400
ROCnROLL:	-1
TRIX (15,9):	2.5800
Courbe Coppock:	52.28

MA7:	57.12
MA20:	63.89
MA50:	62.02
MA100:	56.05
MAexp7:	60.79
MAexp20:	56.23
MAexp50:	45.30
MAexp100:	38.73
Price / MA7:	-0.02%
Price / MA20:	-10.61%
Price / MA50:	-7.92%
Price / MA100:	+1.89%
Price / MAexp7:	-6.05%
Price / MAexp20:	+1.57%
Price / MAexp50:	+26.07%
Price / MAexp100:	+47.46%

Quotes : - 15 min delayed data - NYSE Stocks

News

The latest news and videos published on OCCIDENTAL PETROLEUM at the time of the analysis were as follows:

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

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