Occidental Petroleum: a fresh buy signal fires
Occidental Petroleum rallies 3.7% as a fresh buy signal fires
Occidental Petroleum: a fresh buy signal fires
Our view last week
After weeks of steady deterioration, Occidental Petroleum just had a technical turning point: the stock jumped 8.1%, with buyers taking 68% of the week's volume and the weekly RSI back above 50. Price is now pinned in a tight band between the 52.6 and 53.6 areas, a step from the Inversion Point. The sell signal, now in its 13th week, is down to just a 1.67% gain: money flow stays negative, and next week will tell whether the bounce holds.
This week's summary
Occidental Petroleum bounces 3.7% off its own 20-day moving average, in the 53 area, with buyers taking 73% of the session's volume. In this weekly technical analysis the bounce fires a fresh buy signal — first of the 20 new US Longs, signal strength 72 out of 100 — but the week also brings some caution: contracting volumes and a weaker last bar than usual. The stock stays boxed between resistance and support, with the energy sector running hot.
IQS Phase
45
ordinary
Signal Strength
72
high · wide move
Sizing
FULL
Ranking
#1 / 20
New us stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content