OptionsPlay DailyPlay

The bearish DailyPlay we chose for Tuesday August 25th is Occidental Petroleum Corporation (OXY). OXY is part of the Energy Sector (XLE). Over the last month, XLE has experienced 11.20% move lower as both trends remain bearish.

Occidental Petroleum Corporation’s 1-month and 6-month trend turned bullish as it recently broke below its $71.33 support level which now becomes resistance. OXY has a technical score of 5 (out of 10) and continues to show negative momentum as it looks positioned to continue lower.

View this trade idea on $OXY