DailyPlay for Tuesday Nov 7th, 2017 – Occidental Petroleum (OXY)
The bullish DailyPlay we chose for Tuesday Nov 7th is Occidental Petroleum (OXY). OXY is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 3.20% move higher and its 1m and 6m trend has turned bullish on 11/01 while breaking above its $70 resistance level.
Occidental Petroleum’s 1m and 6m trends turned bullish on 9/18 and recently broke above its $66 resistance level which now becomes support. With a technical score of 8 (out of 10), OXY is a strong bullish stock that is likely to continue higher.
As a stop loss, if OXY was to trade below $66 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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