Regular readers of my briefings might be surprised by tonight’s focus on energy companies rather than the usual S&P and big tech names. As tech continues its hyper-value run, I’m exploring potential opportunities elsewhere.

Occidental Petroleum Corp (OXY)

With an apparent floor between $56 and $60 per share and a recent breakout of a falling wedge, OXY looks to be setting up for an uptrend. Recent chart data shows that a run toward $71 per share is on the table (~15% gain), with potential to extend to $77 or beyond.

Should the price dip below $60 in the coming days, I’ll likely cut losses and consider re-entering if it stabilizes above the falling wedge.

Devon Energy Corp (DVN)

DVN’s chart shows a similar falling wedge breakout, but has a higher potential return if it makes a run at recent highs. Current price is at $47, but was at $79.40 two years ago (~70% gain). While the outcome isn’t certain, I’m confident enough in this setup to start accumulating shares.

If support at $46 fails, I’ll likely exit the trade and wait for price to reclaim that level before reconsidering.