Occidental Petroleum Corporation (OXY) stock price stabilized amidst a series of consecutive losses in its latest intraday trading, as the stock attempts to find a bullish bottom to serve as a base that could help it gain the positive momentum necessary to recover. This comes amid the dominance of a main short-term bullish trend, with the stock consistently trading above its 50-day SMA, providing dynamic support that reinforces its upward path. In the background, we note the Stochastic indicator has reached extremely oversold levels that are significantly exaggerated relative to price action, in a clear sign of accumulating positive momentum around the stock.

Therefore we expect the stock price to rise during its upcoming trading sessions, as long as support at $60.25 remains intact, targeting the resistance level at $67.45.

Todays price forecast: Bullish