Descending Triangle with bullish divergence. Breaking out.

Panjang

Occidental Petroleum Corporation (NYSE:OXY)

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NYSE:OXY Occidental Petroleum Corporation

Oxy was punished for the perceived over payment of Anadarko Petroleum. Severely undervalued @$40. In 2018 Anadarko had assest value's of 40 billion alone. Occidental had assets valued at 43 billion. At the current price of $41 OXY's market cap is only 36 Billion. Less than half the combined 2018 valuation. Perfect chart setup.

Komen:

As predicted a nice breakout. It may take a breather but I believe this will continue. It may take an earnings report that instills some confidence.

Penafian

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