Occidental Petroleum Corporation
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Oxy update, and my most profitable strategy discussed

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Here is an update on the OXY chart after oil had its pivot in April. Oxy was my best trade of the year dollar amount wise and I am 6/6 the last 1.5 years on these longer dated call strategies. I like to trade wedges or bull flags on value stocks and or GLD and similar ETFs. This wedge breakout like many I have posted before is my most favored setup, I am currently doing this with CLSK.

1. You layer into a long on a demand zone as the contraction nears its end.
2. You enter on a bottoming stochastic RSI, here I added to the position after the initial bump
3. A new entry zone is noted on a potential breakout on crude oil futures
4. The stock bounced on the 100 EMA, I plan to layer in next week
5. My preferred entry is 4-6 months out likely a 65-70$ strike on calls

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