Occidental Petroleum Corporation Stock Forecast
Occidental Petroleum Corporation stock price ended at 60.69€ on Monday, after gaining 1.95%.
(Updated on May 06, 2024)
The Occidental Petroleum Corporation stock price gained 1.95% on the last trading day (Monday, 6th May 2024), rising from 59.53€ to 60.69€. During the last trading day the stock fluctuated 1.27% from a day low at 59.93€ to a day high of 60.69€. The price has risen in 6 of the last 10 days but is still down by -3.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately 307.70€ thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 59.71€ 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 19.00% during the next 3 months and, with a 90% probability hold a price between 71.06€ and 81.74€ at the end of this 3-month period.
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OPC.DE Signals & Forecast
Occidental Petroleum Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Occidental Petroleum Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 61.95€ and 61.49€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -7.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Occidental Petroleum Corporation stock
Occidental Petroleum Corporation finds support from accumulated volume at 60.25€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.760€ (1.27%) between high and low. For the last week, the stock has had daily average volatility of 1.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OPC.DE) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Occidental Petroleum Corporation to open at 60.44€, and during the day (based on 14 day Average True Range), to move between 59.56€ and 61.82€, which gives a possible trading interval of +/-1.13€ (+/-1.87%) up or down from last closing price. If Occidental Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 3.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 60.25€ (0.72%) than the resistance at 62.00€ (2.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Occidental Petroleum Corporation will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Occidental Petroleum Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.17% in the first trading day after earnings release.
Is Occidental Petroleum Corporation stock A Buy?
The Occidental Petroleum Corporation stock holds several negative signals and despite the positive trend, we believe Occidental Petroleum Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.933 Sell Candidate Unchanged
Predicted Opening Price for Occidental Petroleum Corporation of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| 60.44€ ( 0.417%) | 60.69€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPC.DE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.20 | 0.83 % | |
| R2 | 60.91 | 0.356 % | ||
| R1 | 60.73 | 0.0609 % | ||
| Current price: | 60.69 | |||
| Support | S1 | 60.15 | -0.90 % | |
| S2 | 59.97 | -1.19 % | ||
| S3 | 59.68 | -1.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.18 | 4.10 % | |
| R2 | 62.75 | 3.39 % | ||
| R1 | 62.00 | 2.16 % | ||
| Current price | 60.69 | |||
| Support | S1 | 60.25 | -0.725% | |
| S2 | 55.75 | -8.14% | ||
| S3 | 55.25 | -8.96% |
OPC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2024 | Jun 10, 2024 | Jun 10, 2024 | 0€ | 0% |
| 2 | Mar 07, 2024 | Mar 07, 2024 | Apr 15, 2024 | 0.204€ | 0.317% |
| 3 | Dec 07, 2023 | Dec 07, 2023 | Dec 07, 2023 | 0€ | 0% |
| 4 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | 0.180€ | 0.326% |
| 5 | Mar 09, 2023 | Mar 09, 2023 | Mar 09, 2023 | 0.180€ | 0.315% |
FAQ
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