$OXY
Added 2024-01-12 15:56:30 +0000 UTCIt is my understanding that Buffett has added to his position here again and this brings his ownership of the company up to 34% now....Up 9% within a few months.
I have added on the chart where Buffett continues to buy and he is the master at conviction and buying in the undervalued zones.
As long as this stays in the wedge, there is a potential for this to breakout and a move to the upside.
The 200 Day MA is the next level that the bulls need to get back above at $61, a strong hold here and they can attempt the wedge breakout which has been a difficult resistance level.
Remember, Buffett is not only buying $OXY because they are an energy company, he is buying it for their Carbon capture technology, a leader in the sector, their dividends and possible share buy backs.
My Wave 5 target continues to be at $88.
