$OXY
Added 2024-07-02 11:16:38 +0000 UTCUS Oil has made a strong move this month moving from $72 to $84 and during the time, Buffett has ramped up his buying in $OXY and he clearly sees something bullish, considering this is only 1 of a few companies that he is buying aggressively into.....Buffett also said that the market is overvalued right now, so for him to Buy a company now, he must feel there is significant value and we believe so too.
Increase in Oil Price
An increase in production due to the potential deregulation prospects of a Trump Presidency
Dividend payment
Carbon Capture market growing rapidly, tax efficient offset on costs.
$OXY fits the criteria for Buffett perfectly and should be considered a suitable long term hold here.
Price is just above the 50 and 200 Day MA so this is into the Bull Case now.
Wave 5 target remains unchanged.
