Has OXY Finally Hit The Bottom?
OXYOXY(OXY) Seeking Alpha·2024-09-13 22:00
Jeremy Poland Investment Thesis Despite a 20% price drop since our last coverage, Occidental Petroleum's (NYSE:OXY) technical indicators suggest short-term weakness. The RSI signals the stock is oversold, and the declining Volume Price Trend (VPT) indicates lower trading volume as the price falls. Although there is near-term downside risk, OXY's strong fundamentals make for a pretty compelling long-term value argument; for investors focused on the long haul, current weakness can be seen as a possible bu ...