OCCIDENTAL PETROLEUM CORP (OXY) Stock Technical Analysis
NYSE:OXY • US6745991058
We assign a technical rating of 8 out of 10 to OXY. Although OXY is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- OXY is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month OXY has a been trading in the 43.31 - 56.34 range, which is quite wide. It is currently trading near the high of this range.
- OXY has an average volume of 12180900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, OXY did better than 78% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
- OXY is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 53% of 207 stocks in the same industry.
Although OXY has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
39.35
When analyzing the support we can see 5 important areas.
- A support zone ranging from 50.93 to 51.05. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @46.31 from a trend line in the daily time frame.
- Support @43.96 from a horizontal line in the daily time frame.
- Support @42.63 from a horizontal line in the daily time frame.
- A support zone ranging from 39.75 to 40.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 54.22 to 54.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for OXY is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OXY is up. |
| ChartMill Relative Strength | 78.89 | POSITIVE | OXY has a high relative strength, it outperformed 78.89% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OXY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OXY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OXY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 73.34 | OVERBOUGHT | The high RSI value suggests OXY may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.47 | POSITIVE | The MACD value suggests OXY has a positive trend. |
| Stochastics (14,3) | 85.36 | OVERBOUGHT | The high Stochastics value suggests OXY may be overbought. |
| Average True Range in percent/ATR (20) | 3.43 | MEDIUM VOLATILITY | The ATR as a percentage value for OXY suggests some volalility. |
| Average Directional Index/ADX (14) | 35.23 | POSITIVE | The high ADX value value for OXY suggests a strong trend. |
54.21
+1.13 (+2.13%)
OCCIDENTAL PETROLEUM CORP / OXY FAQ
Can you provide the ChartMill technical rating for OCCIDENTAL PETROLEUM CORP?
ChartMill assigns a technical rating of 8 / 10 to OXY.
What is the current trend direction of OCCIDENTAL PETROLEUM CORP (OXY) stock?
The current trend direction for OCCIDENTAL PETROLEUM CORP (OXY) is Bullish.
Can you provide the RSI signal for OCCIDENTAL PETROLEUM CORP?
OCCIDENTAL PETROLEUM CORP (OXY) has an RSI value of 73.3383. This indicates that the stock is currently overbought.
Can you provide the MACD signal for OCCIDENTAL PETROLEUM CORP?
The MACD indicator for OCCIDENTAL PETROLEUM CORP (OXY) has a value of 0.467091, indicating a bearish trend.
Can you provide the buy/sell signal for OCCIDENTAL PETROLEUM CORP?
The buy/sell signal for OCCIDENTAL PETROLEUM CORP (OXY) is buy as both the short term and long term trends are positive.