$OXY has finally tested the wedge breakout level and has also just popped its head above the $63 level too, this is a significant gear change for $OXY and moving well now in our projection.
What we want to see now is a full flip of the $63 level to a support level and this will be one of the clearest buy signals of the year for me.
I like $OXY as a market hedge too, OIL prices are expected to increase this year and $OXY is in a firm position to benefit from this.
It also has the Buffett seal of approval.
Shannon Cooper
2024-03-19 16:01:31 +0000 UTC