Science of Stock Price Action: When a strong stock pulls back and takes support at 200 dma: it becomes an attractive buy with a hope of strong gains.
Case Study: Occidental Petroleum OXY
Occidential Petroleum Stock OXY made a big move back in April- May but post that move the stock turned quiet and now has pulled back to 200 dma. Today’s strong bounce from 200 dma makes the stock very attractive and compelling.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers