$OXY
Added 2023-12-29 20:23:21 +0000 UTCNice pull back here for $OXY, it formed an ascending triangle before it broke down and now approaching the 200 Day MA on the 1hr chart for a potential support level.
I suspect there will be a relief bounce here before moving down lower again to the 0.5 Fib or the 0.618 Fib before moving higher again.....very similar to what we are seeing on the $ABNB chart too.
$OXY is seen as a hedge against the market, potential hedge against market volatility from wars and conflicts and supply constraints from oil suppliers.
But I also like it for its carbon capture capability, its dividend and how Buffett is continuously buying this up.
Comments
They are one of the leading companies in the sector….they can capture carbon from the air and sell this as credits to high producing carbon companies who are heavily taxed on this…like airlines
Gareth Neary
2023-12-30 11:55:14 +0000 UTCWhat do you mean by " carbone capture capability " ?
M
2023-12-29 20:25:50 +0000 UTC
