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
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