Million

Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Occidental Petroleum Corp has a market capitalization of $53.116 Billion.&nbsp;</a> </li> 
 <li> <span>2</span> <a>The MACD line seems to be approaching the sellers’ territory, reflecting bearish accumulation.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Around 881.842 Million OXY shares are free floating and remaining 2.84 Million shares are closely held.&nbsp;</a> </li> 
</ul> 
<p>OXY stock price declined by over 6% in a week and by 5.69% in a month. The annual price target of Occidental Petroleum Corp stock is $70.16.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-occidental-petroleum-corp-oxy-stock-price-analysis-strong"><strong>Occidental Petroleum Corp (OXY) Stock Price Analysis&nbsp;</strong></h2> 
<p>In the 52 weeks time frame, OXY stock price peaked at $76.11. Its lowest traded price was $55.51. Occidental Petroleum Corp has a market capitalization of $53.116 Billion.</p> 
<p>Companiesmarketcap(dot)com data shows a decline of 7.22% in the market cap in 2023 compared to that in 2022. The MACD line seems to be approaching the seller’s territory, however the signal line is still above the zero line.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized">
  <img decoding="async" loading="lazy" src="https://lh5.googleusercontent.com/3H_p6gz0BkPs8kZ4YIS-JYF8t7Y2uzkuJmlXO4V9JZpz0HN11-7GWhL9J5zW9vvm_cul-SbmRR0a9eqKoAgoJV5Z_GyzqA4DzCwMMifVXnpvSAx-WUfVbMIaP0Q0_w5h39-LoDQYbjWnQ6Pc2gm0Ks8" alt="Occidental Petroleum Corp Stock Sheds 6%; More Bearishness Expected?" style="width: 100%;height:581px" width="1170" height="581">
  <figcaption class="wp-element-caption">
   Source: OXY stock price chart from <a href="https://www.tradingview.com/x/Vg4OG3cg/">TradingView&nbsp;</a>
  </figcaption>
 </figure>
</div> 
<p>Over the past few days, bearish dominance is seen below the histogram. The price is on a steady decline. As per market analysts, OXY stock price might open above its previous closing of october 4, 2023.</p> 
<p>At the time of writing, Occidental Petroleum Corp stock was trading below 20,50,100 and 200 day exponential moving averages (EMA).</p> 
<p>As per estimates, if sellers continued their dominance over buyers, then OXY stock price might decline further and find support at $59.24 followed by $58.28.</p> 
<p>If bulls succeed in neutralising the bears, then analysts believe that a short term reversal is expected and OXY stock price might meet immediate resistance of $62.59 followed by $63.04.</p> 
<h3 class="wp-block-heading" id="strong-occidental-petroleum-corp-oxy-financial-updates-strong"><strong>Occidental Petroleum Corp (OXY) Financial Updates&nbsp;</strong></h3> 
<p><a href="https://www.thecoinrepublic.com/2023/08/14/occidental-petroleum-stock-will-oxy-stock-price-reach-70-00/">Occidental Petroleum Corp</a> failed to meet the analysts’ expectations and reported 3.22% less revenue than the estimations. The company was expected to report $6.92 Billion in revenue.&nbsp;</p> 
<p>The reported EPS of the company shows a steady decline as revenue and the reported exponential moving average was 6.35% lesser than the estimated EPS.&nbsp;</p> 
<p>In the financial year 2022, Occidental Petroleum Corp failed to meet the estimates and reported 1.56% less revenue. The reported revenue of the previous net income of the company was $13.22 Billion and it generated a profit margin of 36.47%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> 
<p>TradingView data shows that 881.842 Million OXY shares are free floating and remaining 2.84 Million shares are closely held by financial backers and others.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Level: $59.24 and $58.28</p> 
<p>Resistance Level: $62.59 and $63.04&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion: </strong></h4> 
<p>OXY stock price declined over 6% in a week and 5.69% in a month, however there are further expectations of a decline. The MACD line seems to be approaching the oversold territory and the histogram is reflecting bearish accumulation.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Occidental Petroleum Corp Stock Sheds 6%; More Bearishness Expected?

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Thecoinrepublic.com

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