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Occidental Petroleum is the biggest gainer in the S&P 500 this year, but was the biggest decliner last week. Is the dip an opportunity for the bulls?
The first pattern on today’s chart is the surge to a new 52-week high in late August. It is one of only 12 S&P 500 members to hit a new high in the last two weeks (and the only energy company.) That relative strength may reflect interest by large investors.
Second, the dip since then has …
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