Evaluation of Occidental stock downgraded after the last trading session.

The Occidental stock price fell by -2.20% on the last day (Tuesday, 5th Jul 2022) from $60.44 to $59.11. During the day the stock fluctuated 4.99% from a day low at $56.72 to a day high of $59.55. The price has risen in 6 of the last 10 days and is up by 6.16% over the past 2 weeks. Volume has increased on the last day by 15 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 40 million shares were bought and sold for approximately $2.36 billion.

The last rating was given by Goldman Sachs on Jul 05, 2022. The price target was changed from 79 to 70.Over the last 90 days, this security got 10 buy, 1 sell, and 0 hold ratings.

The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $56.24 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 4.84% during the next 3 months and, with a 90% probability hold a price between $58.96 and $75.69 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Friday, June 17, 2022, and so far it has risen 6.16%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Occidental stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $59.38 and $63.58. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Occidental finds support from accumulated volume at $57.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.83 between high and low, or 4.99%. For the last week, the stock has had a daily average volatility of 5.48%.

The Occidental stock holds several negative signals and despite the positive trend, we believe Occidental will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.