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- 10/23/2020 -
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Occidental Petroleum (OXY)

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Summary:
Weekly :Oversold sectorOversold industryLane's Stochastic oversoldWilliams' Percentage Range is strongly oversold
Daily :Lane's Stochastic is oversoldPrice is near the Fibonacci 23.6% retracement levelThe period of low volatility of the stock price
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It was the negative week for the Occidental Petroleum (OXY). During the week, the OXY gave back -0.07 points, or -0.69%, and closed at 10.02 on Friday, October 23, 2020. Weekly volume was -32% below average.

OXY is a member of Energy Sector. Energy is the second most oversold sector. OXY is a member of Oil & Gas Exploration & Production Industry. Oil & Gas Exploration & Production is the fourth most oversold industry. 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 June 7, 2018 at 87.67 and reached 9.00 on March 18, 2020. OXY lost 78.67 points, or 89.73%, in 92 weeks. Price is near the trend low.

Medium-term trend: [See OXY medium-term trend chart]
A medium-term downtrend had started on June 8, 2020 at 24.50 and reached 9.23 on October 2, 2020. OXY lost 15.27 points, or 62.33%, in 16 weeks. The price is now at the 5.17% retracement level.

Weekly Technical Indicators: [See OXY weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly 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 weekly MACD line is above its signal line since May 29, 2020. The distance between MACD and the signal line is low, but getting bigger. 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 October 9, 2020 at 11.34 and reached 9.66 on October 21, 2020. OXY lost 1.68 points, or 14.81%, in 12 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See OXY daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is above its signal line since September 16, 2020. The distance between MACD and the signal line is low and getting smaller.

The distance between the Bollinger Bands is falling, and it was 15.57% on Friday. It is 66.46% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.47
Williams' Percentage Range (W%R) 51.70
Lane's Stochastic (%D-Slow) 16.91
Oversold
Greed/Fear Indicator (GFI) 36.57
Moving Average Converg./Diverg. (MACD) -0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 23.79
Williams' Percentage Range (W%R) 93.30
Strong Oversold
Lane's Stochastic (%D-Slow) 13.52
Oversold
Greed/Fear Indicator (GFI) 18.79
Oversold
Moving Average Converg./Diverg. (MACD) -3.85
Trading Signals
Description Value Chart
50 Day Moving Average 11.38
Upper Bollinger Band 11.20
Parabolic System 11.13
20 Day Moving Average 10.25
Price 10.02
Daily Stochastic Crossing 9.93
Weekly Stochastic Crossing 9.79
Lower Bollinger Band 9.63
Sector and Industry
Description Name Rank
Sector Energy 2
Industry Oil & Gas Exploration & Production 4
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 11.34
High Date 10/09/2020
Low 9.66
Low Date 10/21/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 24.50
High Date 06/08/2020
Low 9.23
Low Date 10/02/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 87.67
High Date 06/07/2018
Low 9.00
Low Date 03/18/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 78.48
High Date 08/30/2016
Low 9.00
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 117.89
High Date 05/02/2011
Low 9.00
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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