Occidental's most recent trend suggests a bearish bias. One trading opportunity on Occidental is a Bear Call Spread using a strike $53.00 short call and a strike $58.00 long call offers a potential 17.65% return on risk over the next 21 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $53.00 by expiration. The full premium credit of $0.75 would be kept by the premium seller. The risk of $4.25 would be incurred if the stock rose above the $58.00 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Occidental is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Occidental is bearish.
The RSI indicator is below 20 which suggests that the stock is in oversold territory.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Occidental
Houston's office vacancy rate among highest in the nation, report says
Wed, 29 May 2019 23:18:34 +0000
The soft market for commercial office space in Houston has led to a vacancy rate that is higher than nearly every major metro area in the country, according to a recent report released by real estate services firm Colliers International.
Crude Oil Prices Could Rally, But the Long-Term Outlook Is Bleak
Wed, 29 May 2019 19:23:29 +0000
The S&P 500 continues to drift a few hundred points shy of its record high as investors balance worries over the China trade war with growing American financial strength.Source: Shutterstock But there is one number that could kick all the optimism to the curb, and right soon.It's the price of oil.InvestorPlace – Stock Market News, Stock Advice & Trading TipsThe global price, defined as Brent North Sea oil, recently fell from its 2019 high of almost $74 per barrel and was trading on Wednesday at about $68.That's nearly a $10/barrel premium over the main U.S. grade, West Texas Intermediate, which is at about $59 per barrel. That $9 per barrel discount, despite the 2016 end of a ban on U.S. oil exports, is the product of Texas shale oil. U.S. production, now 12.2 million barrels per day, is double what it was in the 1990s. * 7 Stocks to Sell Amid an Escalating Trade War Prices have been falling steadily but they could be due for a short-term snapback. Here's why. Bad News Piles UpBad supply news is starting to pile up in the global oilpatch. Arab oil producers are working hard to get prices high, and believe they are succeeding.It's not just tensions in Iran, Libya and Venezuela that are impacting supply. Russia is cutting supplies, and that may not all be voluntary. Its pipelines were contaminated by chlorine in April, which Russia blames on a small company pushing untreated product. The $2.7 billion in contaminated oil is causing disruption throughout Europe.Russian analysts are warning loudly of global instability in the oil markets. But American analysts insist the U.S. can supply the market at $40-$45 per barrel, thanks to new fracking technology, and they can say the outlook for prices is bearish even with OPEC supply cuts.If these analysts are wrong, global growth could turn negative. Shale SlowdownSchlumberger (NYSE:SLB) is the canary in the coal mine here. SLB stock has been getting hammered as drillers cut their orders. Fracked wells deplete quickly; without constant investment, supplies can dry up quickly.Shale operators insist they can raise production by 16% this year, with many producers raising their production guidance, but if they're also spending less that's not going to continue.Warren Buffett's support for the Occidental Petroleum (NYSE:OXY) takeout of Anadarko Petroleum (NYSE:APC) is based in prices remaining high or rising. That's not good for consumers. The Long-Term Outlook for EnergyWhat we're witnessing, in my view, is the last dance of the oil patch.New production is being developed in Brazil, and Exxon Mobil's (NYSE:XOM) production program in Guyana will hold prices down over the long-term.Meanwhile, prices for both solar energy and wind energy continue to decline, while demand is only now returning to its peak in 2000 thanks to the cheapest renewable energy of all — efficiency.Renewable energy now constitutes one-third of the world's electricity generation. For countries without a huge amount of fossil fuel infrastructure, it's the obvious choice. The Bottom LineOn the one hand, because high oil prices are now in America's economic interest, prices should remain high throughout the summer. Current disruptions and international tensions should, on the other hand, lead to a hard spike in prices. This could still happen, but if it does, the impact will be shortlived, and it will only serve to accelerate the ongoing transition toward renewables.The lack of a price spike in the face of global growth, OPEC supply cuts, Russian supply disruptions and a slowdown in oilfield spending is the dog that is not barking in the energy market.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for June * 7 Stocks to Buy From One of America's Best Pension Funds * 4 Consumer Staples Stocks for Both Income and Growth Compare Brokers The post Crude Oil Prices Could Rally, But the Long-Term Outlook Is Bleak appeared first on InvestorPlace.
Stock Market News: Canada Goose Gets Plucked; Occidental Plans Sales
Wed, 29 May 2019 15:57:52 +0000
The stock market took a sizable hit on Wednesday morning.
Total to hold talks with Algeria over Anadarko assets
Wed, 29 May 2019 11:16:55 +0000
Total will meet Algerian authorities for talks over its plans to buy Anadarko's assets in the country and is not worried by media reports that Algiers would block the deal, Chief Executive Patrick Pouyanne said on Wednesday. “We will meet Algerian authorities very soon,” Pouyanne told shareholders at the company's annual meeting in Paris. Algeria's energy minister said on Monday he would seek a “good compromise” when asked about his earlier comments that Algiers would block Total's plan.
Continental Petroleum Chairman Harold Hamm to Keynote EnerCom's The Oil & Gas Conference® Tues. Aug. 13, 2019
Wed, 29 May 2019 11:15:00 +0000
DENVER, May 29, 2019 /PRNewswire/ — EnerCom is pleased to announce that legendary oilman Harold G. Hamm, chairman and CEO of Continental Resources (CLR), will take the stage for a discussion about U.S. shale and look at the prospects for U.S. oil and gas exploration in a “fireside chat” Tuesday, August 13, 2019, during EnerCom's The Oil & Gas Conference® in downtown Denver's Westin hotel.
Also on Market Tamer…
Follow Us on Facebook