Occidental Petroleum Corporations stock price edged lower in latest intraday trading after attempting to correct the main downward trend in the medium term, while boosted by positive signals from the Stochastic, which it then reached overbought levels, heaping pressure on the price, especially as it trades below the 50-day SMA.

Therefore we expect the stock to decline and target the support of $34.80, provided the resistance of $42.80 holds on.

Todays price forecast: Bearish

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