6 Stock Charts to Watch After the S&P 500’s New High

These stocks could have some meaningful upside in a rally

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Stock Charts to Watch: Occidental Petroleum (OXY)

oxy1 300x173 6 Stock Charts to Watch After the S&P 500s New High
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Like Time Warner, Occidental Petroleum (OXY) is an inexpensive stock that’s trading just below resistance. Occidental has multiple attempts to take out the $98 level in the past year, including one short-lived breakout in November that reversed the next day.

OXY stock is in a position to trade higher in a favorable market, given that its moving averages are headed higher, its estimates are rising and its forward P/E is a reasonable 13.3.

And Occidental isn’t alone. Other energy stocks that could be in line for a possible breakout in the coming weeks include Chevron (CVX), National-Oilwell Varco (NOV) and Pioneer Natural Resources (PXD).

Article printed from InvestorPlace Media, http://investorplace.com/2014/05/6-stock-charts-to-watch-sp-500/.

©2015 InvestorPlace Media, LLC

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