Chart of the Day: Is It Time to Go Back to the Well in Occidental?

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Occidental Petroleum is the biggest gainer in the S&P 500 this year, but was the biggest decliner last week. Is the dip an opportunity for the bulls?

The first pattern on today’s chart is the surge to a new 52-week high in late August. It is one of only 12 S&P 500 members to hit a new high in the last two weeks (and the only energy company.) That relative strength may reflect interest by large investors.

Second, the dip since then has …

For more, please click here to view the related idea and chart analysis on TradingView.

Occidental Petroleum (OXY), daily chart with selected patterns and indicators, courtesy of TradingView
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