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Archive
- 8/21/2026 -
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Occidental Petroleum (OXY) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a second consecutive positive week for the Occidental Petroleum (OXY). During the week, the OXY gained 2.94 points, or 5.04%, and closed at 61.30 on Friday, August 21, 2026. Weekly volume was -36% below average.
OXY is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See OXY long-term trend chart]
A long-term downtrend had started on August 29, 2022 at 77.13 and reached 34.79 on April 9, 2025. OXY lost 42.34 points, or 54.89%, in 136 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (22.69) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. OXY may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See OXY medium-term trend chart]
A medium-term downtrend had started on March 31, 2026 at 67.45 and reached 47.77 on July 1, 2026. OXY lost 19.68 points, or 29.18%, in 13 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (44.81) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. OXY may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See OXY weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
 Short-term trend: [See OXY short-term trend chart]
A short-term uptrend had started on August 13, 2026 at 57.18 and reached 62.15 on August 20, 2026. OXY gained -4.97 points, or -8.69%, in 7 days. The price is now at the 17.10% retracement level.
 Daily Technical Indicators: [See OXY daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since August 7, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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