OCCIDENTAL PETROLEUM

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	OXY
ISIN:

OCCIDENTAL PETROLEUM - 1H - Technical analysis published on 07/18/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 63.65 USD

My targets

66.60 USD (+3.37%)

69.00 USD (+7.09%)

My analysis

OCCIDENTAL PETROLEUM is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 63.65 USD. The next resistance located at 66.60 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 69.00 USD. After this resistance, buyers could then target 74.38 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

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

8.6

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

Additional analysis

Quotes

The OCCIDENTAL PETROLEUM price is 64.43 USD. The price has increased by +2.03% since the last closing with the lowest point at 63.11 USD and the highest point at 64.75 USD. The deviation from the price is +2.09% for the low point and -0.49% for the high point.

63.11

64.75

64.43

A study of price movements over other periods shows the following variations:

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

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this OCCIDENTAL PETROLEUM chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

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

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	62.56	63.27	63.65	64.43	66.60	69.00	74.38
Change (%)	-2.90%	-1.80%	-1.21%	-	+3.37%	+7.09%	+15.44%
Change	-1.87	-1.16	-0.78	-	+2.17	+4.57	+9.95
Level	Intermediate	Intermediate	Intermediate	-	Major	Intermediate	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	61.61	62.04	62.60	63.03	63.59	64.02	64.58
Camarilla	62.88	62.97	63.06	63.15	63.24	63.33	63.42
Woodie	61.67	62.07	62.66	63.06	63.65	64.05	64.64
Fibonacci	62.04	62.42	62.66	63.03	63.41	63.65	64.02

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	58.83	59.62	60.41	61.20	61.99	62.78	63.57
Camarilla	60.77	60.91	61.06	61.20	61.35	61.49	61.64
Woodie	58.83	59.62	60.41	61.20	61.99	62.78	63.57
Fibonacci	59.62	60.22	60.60	61.20	61.80	62.18	62.78

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	55.12	56.95	59.99	61.82	64.86	66.69	69.73
Camarilla	61.69	62.14	62.58	63.03	63.48	63.92	64.37
Woodie	55.73	57.25	60.60	62.12	65.47	66.99	70.34
Fibonacci	56.95	58.81	59.96	61.82	63.68	64.83	66.69

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):	70.41
MACD (12,26,9):	0.6200
Directional Movement:	27.83
AROON (14):	85.71
DEMA (21):	63.81
Parabolic SAR (0,02-0,02-0,2):	62.79
Elder Ray (13):	1.08
Super Trend (3,10):	62.91
Zig ZAG (10):	64.37
VORTEX (21):	1.1700
Stochastique (14,3,5):	88.71
TEMA (21):	64.22
Williams %R (14):	-11.67
Chande Momentum Oscillator (20):	2.26
Repulse (5,40,3):	0.8900
ROCnROLL:	1
TRIX (15,9):	0.1100
Courbe Coppock:	5.32

MA7:	62.25
MA20:	62.26
MA50:	61.90
MA100:	63.21
MAexp7:	63.84
MAexp20:	63.07
MAexp50:	62.40
MAexp100:	62.10
Price / MA7:	+3.50%
Price / MA20:	+3.49%
Price / MA50:	+4.09%
Price / MA100:	+1.93%
Price / MAexp7:	+0.92%
Price / MAexp20:	+2.16%
Price / MAexp50:	+3.25%
Price / MAexp100:	+3.75%

Quotes : - 15 min delayed data - NYSE Stocks

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:

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

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