The Greedy Trader Weekly Analysis
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Quarterly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/19/2024 -
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Occidental Petroleum (OXY) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARLane's Stochastic is oversold
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It was the negative week for the Occidental Petroleum (OXY). During the week, the OXY dropped -2.38 points, or -3.45%, and closed at 66.63 on Friday, April 19, 2024. OXY was trading at average weekly trading volume.

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 uptrend had started on October 29, 2020 at 8.52 and reached 77.13 on August 29, 2022. OXY gained -68.61 points, or -805.28%, in 95 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 77.27 and resistance is at 62.25. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See OXY medium-term trend chart]
A medium-term downtrend had started on August 29, 2022 at 77.13 and reached 55.12 on December 12, 2023. OXY lost 22.01 points, or 28.54%, in 67 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (54.94) 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 medium-term trend.

Weekly Technical Indicators: [See OXY weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since February 23, 2024. The distance between MACD and the signal line is near its high, but getting smaller. 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 January 18, 2024 at 55.53 and reached 71.18 on April 12, 2024. OXY gained -15.65 points, or -28.18%, in 85 days. The chart has formed a Broadening Ascending Wedge chart pattern.

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. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

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 price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.49
Williams' Percentage Range (W%R) 60.70
Lane's Stochastic (%D-Slow) 17.98
Oversold
Greed/Fear Indicator (GFI) 36.25
Moving Average Converg./Diverg. (MACD) 1.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.54
Williams' Percentage Range (W%R) 31.20
Lane's Stochastic (%D-Slow) 89.36
Overbought
Greed/Fear Indicator (GFI) 73.95
Moving Average Converg./Diverg. (MACD) 0.25
Trading Signals
Description Value Chart
Yearly Trendline Support 77.27
Parabolic System 70.59
Upper Bollinger Band 70.15
Weekly Stochastic Crossing 69.71
20 Day Moving Average 66.87
Price 66.63
Daily Stochastic Crossing 66.34
50 Day Moving Average 63.19
Lower Bollinger Band 62.67
Quarterly Trendline Resistance 62.25
Yearly Trendline Resistance 62.25
Quarterly Trendline Support 54.94
Sector and Industry
Description Name Rank
Sector Energy 12
Industry Oil & Gas Exploration & Production 120
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 55.53
Low Date 01/18/2024
High 71.18
High Date 04/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 55.12
Low Date 12/12/2023
High 71.18
High Date 04/12/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.67
High Date 09/14/2023
Low 55.12
Low Date 12/12/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 62.25
Support 54.94
High 77.13
High Date 08/29/2022
Low 55.12
Low Date 12/12/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 62.25
Support 77.27
Low 8.52
Low Date 10/29/2020
High 77.13
High Date 08/29/2022
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.