The Long Investor
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$OXY
🕑 Added 2025-04-11 12:54:53 +0000 UTC$OXY has dropped down to its 0.618 Fib at $34 that we spoke about last week.
Oil prices dropped during the week when Wall St announced that they expect a recession in the US this year, a number of institutions have indicated that ongoing tariffs will result in this.
$OXY now has a PE of 14 and a FWD PE of 9 and healthy margins, so it is being brought down by macro influences.
$OXY will need to confirm support here above $34 to consider adding here, the downside risk will be the next support level at the 0.78 Fib at $23.
Comments
Paul
laying in wait for this one
Brian
Been a rough downtrend since $56 for me :/
Giorgio
Almost* time
Giorgio
The patience is paying off…time to backup the truck on Mr. Buffet’s pick
