OXY stock: buy or sell
Updated on:
Jul 29th, 2021
1
OXY stock brief
- Occidental Petroleum stock grew 2.44% to close at $26.90 on the stock market on Wednesday.
- The stock is configuring an uptrend pattern since October 2020, when it bottomed at $8.51. This rally marked a 216.10% gain
Should I buy Occidental Petroleum stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $OXY stock a buy?
In the current situation of Occidental Petroleum there is just one buy setup eligible:
Uptrend buy setup
Occidental Petroleum stock is in an uptrend since in October 2020 that so far marked a gorgeous 216.00% gain. Price marked a local bottom in this uptrend at $23.90 on July 19, and since then it bounced off a 12.55%. Now, it's just 24.54% away from breaking out over its last top and resume the uptrend. The new buy point is therefore at $33.50. If you decide to enter this trade, the suggested stop loss is at $30.15
| Buy setup | Buy point | Stop loss | Risk |
| Uptrend buy setup | $33.50 | $30.15 | 10.00% |
Should I sell Occidental Petroleum stock?
When is it time to sell Occidental Petroleum?. Just as when we have to buy shares, choosing when is appropiate time to sell is not a fickle decision, and we must adhere our own trading strategy. We like very simple setups to guide us on when is the best time to sell a stock. Be aware that these setups should not be used for selling short $OXY stock
As a rule of thumb, you should never keep an operation that shows a greater losses than those expected at the time of purchase. When to sell your stock must always be dictated by the stop-loss (automatic or manual)
Is it time to sell Occidental Petroleum stock?
Currently, Occidental Petroleum stock doesn't match any of our preferred sell setups, so if you hold Occidental Petroleum stock and your operation is in profit probably is not time to sell now
Occidental Petroleum ratings
In the previous month we couldn't find any rating for Occidental Petroleum
Occidental Petroleum stock analysis
Since in October 2020, Occidental Petroleum has been printing an uptrend that by now marked a gorgeous 216.10%. The price shows higher highs and higher lows, and along the way gave some buying opportunities for those who wanted to invest. Latest pullback was on July 19, when price bounced at $23.90. Like in all uptrends, price needs to rest and currently price is consolidating the gains in a range between $33.50 and $23.90
SMAs overview
Supports and resistances
The current resistances are:
The current supports are:
Bollinger bands
Since the price broke down the lower band on July 20, the price has bounced off by 9.71%
Relative strength index
The RSI dropped below the overbought level of 70 in late June after just crossing to the overbough zone for 1 day (weak signal). The RSI reading on Wednesday was 44.64. Occidental Petroleum price tanked a 18.26% since RSI lost the overbought zone
Occidental Petroleum stock price history
Occidental Petroleum went public on Dec 31st, 1981 priced at $1.73 per share1. Since then, OXY stock surged by 1,454.91%, with an average of 37.31% per year. An investment of $1,000USD on the IPO would have a value of $15,549.13 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Occidental Petroleum stock
Nobody can predict how much a stock will be priced tomorrow. However, many stock price forecasts are posted every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, financial institutions publish their price target based on the stock price action and the company fundamental data. Most of these forecasts follow the release of new fundamental information by the company, and usually. Again, these predictions are not direct recommendations for small traders and should not be trusted blindly.
In the last month we couldn't find any price target published for Occidental Petroleum stock.
Earnings and financials
Last May, Occidental Petroleum Corporation ($OXY) posted adjusted EPS for that strongly improved analysts' expectations. Quarterly EPS was $-0.15 per share from an estimated $-0.33. This Q1 report represents an earnings surprise of 54.55%. Estimated revenue for this quarter was $4.9 billion but Occidental Petroleum enhanced by 11.59%, posting $5.5 billion.
In comparing, the EPS for the same quarter last year was $-0.52, so reported EPS is a improvement of 71.15%. Revenue dropped a -19.96% on an annualized basis in the , from $66.1B to $52.9B last quarter.OXY ($OXY) releases Q2 earnings report next Monday. Wall Street forecasts of $0.01, compared to Q1 that made $-0.15.
Occidental Petroleum performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Occidental Petroleum ($OXY) | -14.60% | 1.30% | 29.40% |
Please read:
The viewpoints expressed in this article are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this paper does not have any knowledge of the individual scenarios of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are provided for informational motives onlyOXY summary
| Wednesday, July 28th, 2021 | |
|---|---|
| Open | $26.55 |
| Close | $26.9 |
| Day range | $26.06 - $27.22 |
| Previous close | $26.26 |
| Session gain | 2.44% |
| Average true range | $1.77 |
| 50d mov avg | $28.40 |
| 100d mov avg | $27.34 |
| 200d mov avg | $22.76 |
| Earnings date | August 9th, 2021 |