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Occidental Petroleum Corporation (OXY) “On a long-term technical basis, the stock (OXY) is trading below its 200-day moving average which implies it is in a negative trend.
The stock has support at 9.06 and 7.88. If the stock breaks down through support at 9.06 then it will probably continue lower to 7.88. The stock has resistance at 29.13 and at 37.25. If the stock breaks up through resistance at 29.13 then it will probably continue higher to 37.25. The 200-day moving average is at 40.44. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (11.33), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely.”
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