The Long Investor

$OXY

Added 2025-04-01 12:42:52 +0000 UTC

Energy positions are starting to get a lot of attention right now as some are commenting that there is a potential energy crisis on the horizon, this may be what Buffett has been anticipating and why he was still a buyer of $OXY while selling out of his other larger holdings in $AAPL and $BAC

A lot of the decisions Buffett has made over the last 18 months have so far turned out to be the right decision and $BRK.B is a clear outlier against the market.

I would also expect him to be correct with $OXY and $SIRI eventually, he has no problem waiting.

This long consolidation now since 2022 leads me to believe that this is an ABC correction and not Wave 4

With that considered, a test of the 0.5 Fib at $42 and on the bottom trend line of the channel is an obvious support level and potential reversal point.

I will be watching for this and will not rule out adding to $OXY.