OXY: potential rally away from here soon

29 Nov 2016

I'm buying dips in this stock, awaiting a rally after the OPEC meeting this week. A good cue is if we don't hit 66.92 within the next 3 days, so, keep your eyes open to start accumulating positions, and perhaps taking some profits if you're already long and get a sharp rally to the top of the range once more.
If that fails, we might see the stock fall lower, but we can't know in advance

Good luck,

Ivan Labrie

30 Nov 2016

Nota

I completed my position with an average price of 68.39.
Pre-market, now at 69.53.
My biggest entry is at 67.51.

30 Nov 2016

Nota

Ok, good progress. We are above resistance and triggered a strong uptrend signal in the daily here. We can expect to hit 75-80 easily.

1 Dis 2016

Dagangan aktif

Shorted at the money calls for 1 month (72.5 strike, Jan 20 2017).

1 Dis 2016

Nota

My avg entry gives me enough wiggle room to be able to wait the pullback out. The call options' 1.87 premium gives me an extra profit cushion too.

2 Dis 2016

Nota

Covered my short call and added to longs at 70.87.

s3.amazonaws.com/tradingview/snapshots/w/WExCEjiN.png

5 Dis 2016

Dagangan ditutup secara manual

Closed at 71.20 for a hefty gain. I'll look to reenter when viable.

6 Dis 2016

Dagangan aktif

Buying back OXY here
s3.amazonaws.com/tradingview/snapshots/p/ppMKNBBT.png

8 Dis 2016

Nota

I closed at the open today, looking to rebuy it soon. Maybe tomorrow, but not sure yet.

9 Dis 2016

Nota

I'm rebuying if we get good confirmation, but it should be rather easy if oil holds support and fundamentals boost it further. If it remains sideways, this one will stall or even fall.