Primary Scenario
OXY stock is expected to remain in an uptrend and continue rising in the near term, with a top likely to form above resistance at $67.45. After that, we anticipate selling pressure to develop.
Alternative Scenario
If OXY sells off soon and drops below support at $34.78, we would assume the corrective high was already set at the end of March and the price has entered the final phase of the broader correction (probability: 38%).
Long-Term Outlook
Based on the daily chart, we expect the final low of the larger correction to occur in our blue Long-Term Entry Range ($34.73–$23.20). Once this correction is complete, a sustained upward move should begin, likely pushing the stock well above resistance at $87.67. Alternatively, the correction may already be finished. In that case, we would see a direct breakout above this resistance, and our Entry Range would not be reached (probability: 36%).
OXY stock is expected to remain in an uptrend and continue rising in the near term, with a top likely to form above resistance at $67.45. After that, we anticipate selling pressure to develop.
Alternative Scenario
If OXY sells off soon and drops below support at $34.78, we would assume the corrective high was already set at the end of March and the price has entered the final phase of the broader correction (probability: 38%).
Long-Term Outlook
Based on the daily chart, we expect the final low of the larger correction to occur in our blue Long-Term Entry Range ($34.73–$23.20). Once this correction is complete, a sustained upward move should begin, likely pushing the stock well above resistance at $87.67. Alternatively, the correction may already be finished. In that case, we would see a direct breakout above this resistance, and our Entry Range would not be reached (probability: 36%).
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.