The bearish DailyPlay we chose for Wednesday August 5th is Occidental Petroleum Corporation (OXY). OXY is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 8.87% move lower as both 1-month and 6-month trends remain strongly bearish.
Occidental Petroleum Corporation has been in a strong bearish trend since the end of June and continues to show negative momentum as it approaches its 52-week low. OXY looks positioned to continue lower.