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Occidental Petroleum (OXY) Showing Bearish Technicals With Resistance At $69.08

Nov 09, 2017 ( via COMTEX) --

Occidental Petroleum (<a href="">OXY</a>) closed Nov 8, 2017 at $68.16 and technical indicators recently have been bearish. With those figures in place, the algorithms behind's Artificial Intelligence Center have identified a couple of attractive trading opportunities in Occidental Petroleum for today. For investors looking for a high return, a diagonal spread pairing a long position in the Jan 18, 2019 $55 call and a short position in the Jan 19, 2018 $67.50 call for a net debit of about $11.67. This trade has an assigned return of 7.11% and 2.20% downside protection. For more a more conservative play, look at a covered call using the Jan 19, 2018 $67.50 call for a $11.67 net debit. This trade has an assigned return of 2.44% but the downside protection increases to 3.34%. Over the last 52 weeks the stock has traded between $57.20 and $73.51.A

(C) Copyright 2017, All rights reserved. ********************************************************************** As of Sunday, 11-05-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system,

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