Trade Alert - Occidental Petroleum High Volume
Published on Monday, 10 December 2012 11:38 Written by TradersHuddle Wire
New York, December 10th (TradersHuddle.com) - Unusual high volume detected on shares of Occidental Petroleum Corporation (NYSE:OXY) early in the trading session. The pace in volume of Occidental Petroleum is already above average, with buyers stepping in, as the stock is 1.14% higher.
Occidental Petroleum Corporation (NYSE:OXY) explores, produces, and markets crude oil and natural gas. The Company also manufactures and markets a variety of basic chemicals, vinyls and performance chemicals. The company is based in Los Angeles, California and operates primarily in the U.S. and the Middle East.
Occidental Petroleum has already traded 1.129 times its 3-month average volume and has calculated support and resistance at $72.69 and $76.18 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading higher by 0.16% from its previous trading close, which means that Occidental Petroleum stock is outperforming the overall market.