Occidental Petroleum Corp. (OXY, $60.55) has seen an 84% gain in overall price performance from March 2020.
Occidental Petroleum Corp. (OXY) has been making waves in the energy industry since it was founded in 1920. The business is a major oil and gas producer with a broad portfolio of assets spread over North America, South America, the Middle East, and Africa. Occidental Petroleum is one of the biggest oil corporations in the world, with a market worth of about $50 billion.
Despite the challenges faced by the energy industry over the past year, Occidental Petroleum has managed to weather the storm. In March 2020, the stock hit a low of $12.34 per share due to the COVID-19 pandemic and the resulting drop in oil prices. However, since then, the stock has made an impressive recovery. As of March 10, 2023, the stock is trading at $60.55 per share, representing an 84% gain in overall price performance from March 2020.
One of the technical indicators that traders use to gauge the momentum of a stock is the Moving Average Convergence Divergence (MACD). The MACD is a popular technical indicator that compares two moving averages of a stock's price to generate trading signals. A positive MACD crossover occurs when the shorter-term moving average crosses above the longer-term moving average, indicating a bullish trend.
On March 06, 2023, the MACD for Occidental Petroleum turned positive, which is a bullish signal for the stock. Looking at past instances where OXY's MACD turned positive, the stock continued to rise in 29 of 38 cases over the following month. This means that the odds of a continued upward trend for Occidental Petroleum are 76%.
It's important to note that technical indicators like the MACD should not be used in isolation to make trading decisions. They should be used in conjunction with other fundamental and technical analysis tools to develop a comprehensive trading strategy.
With an 84% increase in overall price performance since March 2020, Occidental Petroleum Inc. has had a strong year on the stock market. With a 76% possibility of sustained price growth in the upcoming weeks, the recent positive MACD crossover reinforces the bullish outlook for the stock.
OXY in upward trend: price may jump up because it broke its lower Bollinger Band on December 04, 2024
OXY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 34 cases where OXY's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where OXY's RSI Oscillator exited the oversold zone, of 27 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where OXY advanced for three days, in of 301 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on December 03, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on OXY as a result. In of 74 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for OXY turned negative on December 04, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 38 similar instances when the indicator turned negative. In of the 38 cases the stock turned lower in the days that followed. This puts the odds of success at .
OXY moved below its 50-day moving average on November 25, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where OXY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for OXY entered a downward trend on November 22, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. OXY’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock slightly better than average.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.680) is normal, around the industry mean (5.142). P/E Ratio (17.021) is within average values for comparable stocks, (19.579). Projected Growth (PEG Ratio) (2.529) is also within normal values, averaging (5.566). Dividend Yield (0.011) settles around the average of (0.084) among similar stocks. P/S Ratio (2.257) is also within normal values, averaging (156.268).
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Industry OilGasProduction