Did Warren Buffett Whiff On Occidental Petroleum? Maybe Not As OXY Flashes Signs Of Technical Strength

Core Viewpoint - Occidental Petroleum Corp. has faced skepticism due to a 27% decline in shares over the past year, but recent technical indicators suggest a potential rebound and bullish trend [1][2][3] Technical Analysis - The stock has rebounded nearly 9% in the past month, breaking above its eight, 20, and 50-day simple moving averages, indicating a shift to a bullish trend [1][2] - Current share price is $45.49, above the eight-day SMA of $45.26, 20-day SMA of $43.14, and 50-day SMA of $41.53, although still below the 200-day SMA of $47.67 [2][3] - Technical indicators such as MACD at 1.06 and RSI at 61.52 suggest building momentum, with room for further gains before overheating occurs [2][3] Fundamental Analysis - Occidental is projected to generate $1.5 billion in incremental annual free cash flow by 2027, independent of oil price fluctuations [4] - The company's expanding carbon capture and storage initiatives and potential benefits from rising crude prices enhance its long-term attractiveness [4] - Warren Buffett's investment strategy focuses on long-term value rather than short-term price movements, indicating confidence in Occidental's fundamentals [5]