After reaching a new 2019 high one month ago shares of OXY have been falling steadily. Today the stock is down for the 8th straight session. The aggressive distribution wave that began on April 24th has extended the drop from the 2018 peak to just over 35%. Occidental is now testing a major support zone. The $58.00 to $57.00 area held the 2016, 2017 and 2018 lows. Ahead of next week’s earnings report(May 6/PM) OXY is setting up as a very low risk buy. We do not have a position in OXY at this time but will be watching the action closely next week.