New Idea: OXY - T3 Live

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Power Plays New Idea: OXY

January 12, 2023

By Scott Redler

Name: Occidental Petroleum

Ticker: OXY

Price: $65.80

Needs to Hold: $61 to $62

Price Objective 1: $68 to $72

Price Objective 2: $76 to $78

Energy is ramping and I want to be along for the ride.

So I'm making Occidental Petroleum (OXY) my latest Power Play.

OXY was a small winner for us last year and I focus on it when energy is in play.

Aside from the sector momentum, the buying support from Warren Buffett is a big positive for OXY.

The danger zone here is $61 to $62. If the stock breaks down there, it will be time to switch gears.

But I think OXY can reach the $68 to $72 area with potential to hit the $76 to $78 range.

Stay tuned for more updates!

-Scott

Scott Redler Positions Disclosure as of 2023-01-12 at 11.35.18 AM

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