Occidental: MACD turns bullish in week 5
Occidental Petroleum stock jumps 5% as its MACD turns bullish after 12 weeks
Our view last week
Occidental Petroleum stock climbs 4.4% this week and pushes toward its 7-day high, in the 59.55 area — the level that opens the door to a fresh leg higher. The energy sector is pulling in the same direction, with the sector ETF accelerating sharply. The buy signal is in its fourth week and still holds up, with signal strength at 70 out of 100 and plenty of room before the historical ceilings. The trade is already up 6.4% since entry.
This week's summary
Occidental Petroleum's MACD crosses back above its Signal line after twelve weeks below it — a shift in tone as Occidental stock climbs for a second straight week and pushes toward the 62.15 area, the 7-day high that opens the door to a fresh leg higher. The energy sector is pulling the same way, but volumes are contracting, a caveat worth watching in this week's technical analysis. The buy signal is in its fifth week, trade already up 11.74%.
IQS Phase
68
in tension
Signal Strength
70
high · wide move
Sizing
FULL
Ranking
#22 / 167
US stocks in progress
Trade P&L %
+11.74%
from signal to date, no stop loss
Rank position
ranks 22nd among the 167 Longs already running for US stocks in our ranking, with a signal strength of 70 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein strong phase
Performanceweekly +2.79% · monthly +7.50%
OXY belongs to the energy sector (reference ETF XLE). The sector is classified in strong phase according to our weekly reading.
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