OXY - Buy 4th Wave Pullback to Cup and Handle Tgt

١ أبريل ٢٠٢١

This looks like a great set up. Price has moved back to the top of a prior gap, which is usually strong price S/R. It is also at the 50 EMA. We also have the PPO crossing over above the zero line. Oil seems to be moving up again. And MRO surged today. I looked at MRO and OXY on a comparison chart and they trade very closely.

Looks like the Cup and Handle target will match the 5th wave target as well. I'll be buying some calls on this one, since the IV is low for this ticker.