Occidental Petroleum Corp (OXY)

[oMandarin]

Occidental is heading 8% to 10% lower before it goes higher. Will fall into the mid 30s in the next few weeks or sooner. Anyone who thinks this and other oil stocks have hit bottom as of Friday Jan 31, 2020, had better think again. Oil usage way down and falling, virus spreading and worldwide travel slowing, causing economies to slow, affecting consumption, combined with worldwide oil glut. This will get way worse before it gets better. The good news is that it will eventually go back up, and the dividend is respectable, but in the near term oil will be dropping like a stone.