OptionsPlay DailyPlay

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.

View this trade idea on $OXY