One name I have been bullish on in the energy sector is Occidental Petroleum Corp (OXY).
As you can see in the chart below, Occidental’s stock price has been in a strong up-trend following its breakout from a wide base. Though the energy sector is starting to get a bit frothy here, we think OXY can put in some strong gains in the days ahead before pulling back.
Our next price target is the MFU-3 around $35. That area should produce a reaction (consolidation or pullback). In any event, I like the strong up-trend and think this stock could eventually go even higher if energy equities remain in favor.
$OXY Occidental Petroleum Stock Chart
The author or his firm may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
