I continue to like the energy sector and see several stocks with bullish short-term trading setups (that have strong potential).
One in particular is Occidental Petroleum stock (OXY). I like the setup right here as the stock looks poised to breakout of a base building pattern.
I’m also seeing improving money flow and an uptick in momentum. I have an initial price target of $36 with the potential to hit the MOB band target at $38.
Deploy stops. This particular trade is strong as a stand alone, but could be offset with an $XLE hedge.
$OXY Occidental Petroleum Stock Chart
The author or his firm 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.
