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Archive
- 8/7/2026 -
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Occidental Petroleum (OXY) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Occidental Petroleum (OXY). During the week, the OXY dropped -1.16 points, or -2.03%, and closed at 55.91 on Friday, August 7, 2026. It was the worst weekly loss since June 26, 2026. Weekly volume was -16% below average.
 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 (23.06) is broken. A broken support is considered to be a long-term bullish signal. 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 price is now at the 41.36% retracement level.
 Weekly Technical Indicators: [See OXY weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 22, 2026. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See OXY short-term trend chart]
A short-term downtrend had started on July 23, 2026 at 58.99 and reached 53.66 on August 5, 2026. OXY lost 5.33 points, or 9.04%, in 13 days. The chart has formed a Descending Triangle chart pattern.
Daily Technical Indicators: [See OXY daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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