Did OXY Just Bottom?
I'll let you draw your own conclusions:
Long-term we can all agree that the stock is in a strong uptrend. Yes it has been correcting for over 6-years and -50% off the highs
It appears a 3+ year Inverse Head/Shoulder pattern has triggered and now the neckline is being retested.
Price has pulled back in a Bull Flag type pattern and this week undercut the prior swing low in August. The stock reversed significantly into the end of the week and closed with a "Hammer" bar.
On this recent decline price has come back to clip the 200 Day SMA and reverse back above. With the new low in price we did not see a new low in momentum. Price has also been trading with a rising 200 Day SMA since late-2017.
On the Fundamental side the company currently pays a 4.02% Dividend, grew EPS Q/Q by +66%, grew Sales by +35%, and is expected to grow EPS by +68% over the next 5-years.