Ian Cooper’s Stock Pick of the Week

Chart of Day: Revisiting OXY and NVDA 

Just last week, we mentioned that Warren Buffett’s Berkshire Hathaway just bought more shares of Occidental Petroleum (OXY).

In fact, after OXY pulled back about 30% from its high, the firm picked up another 763,017 shares for just over $35.7 million. That follows the firm’s 8.9 million share purchase in December on another pullback. 

 Oversold, OXY is also starting to pivot higher from double bottom support. It’s also starting to push higher from over-extensions on RSI, MACD and Williams’ %R. From. Its last traded price of $48.61, we’d like to see OXY initially retest $53.20, we added. 

Today, shares of OXY are up to $51.04 and could soon retest $54. 

We also highlighted opportunity in Nvidia (NVDA) a couple weeks ago. 

We noted, “After dropping from about $145 to $116.16, the tech giant has become oversold at support dating back to October. It’s also over-extended on RSI, MACD and Williams’ %R. Now trading at $118.65, we’d like to see NVDA initially refill its bearish gap at around $145.” 

NVDA is now up to $139.04 and could retest $150 ahead of earnings on February 26. 

Helping, Analysts at Jefferies just reiterated a buy on tech powerhouse Nvidia, noting: “We continue to believe that most of the supply chain data points out of Asia are just noise and that the fears of a down quarter or air pocket are overblown.” 

Bank of America analysts just reiterated a buy on the NVDA stock, noting that NVDA is a “top pick ahead of NVDA’s FQ4′25 (Jan) earnings call scheduled for 26-Feb. We expect modest beat/inline sales guidance and lower GM [gross margins] in FQ1 (Apr) given Blackwell product transition/China restrictions,” as quoted by CNBC. 

Analysts at Tigress Financial have a buy rating and a $220 price target on NVDA. 

Even Morgan Stanley is a big fan of Nvidia ahead of earnings. 

“While sentiment has worsened around potential longer-term risks, near term business continues to firm, Blackwell supply visibility continues to build, customer desire to spend is clearly on display,” said the firm, as quoted by TipRanks.com..