The PEAD projected a bearish outlook for $BP after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 55.56%.
If the Energy Sector gets going again you might want to have BP on your watchlist. However, it is encountering some major resistance where it’s at right now. Look at the chart for notations. This is NOT ready to trade yet according to my trading plan but is on my longer term watchlist. Ideas, not investing / trading advice.
I also need to note that there are...
BP. (BP.) - 30d expiry - We look to Sell a break of 454.8 (stop at 467.4)
Daily signals for sentiment are at overbought extremes.
A higher correction is expected.
A break of the recent low at 455 should result in a further move lower.
The bias is to break to the downside.
Short term momentum is bearish.
Current prices have reacted from a low of 455,...
The PEAD projected a Bullish outlook for $BP after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 7560.
BP Plc operates as an integrated oil and gas company. It operates through the following segments: Upstream, Downstream and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development and production, midstream transportation, storage and processing, and marketing and trade of natural gas, including liquefied natural gas and...
Cup and Handle on BP Plc
Breakout confirmed.
Target £563.00
Also the RSI has broken out of the down momentum and picking up.
Only concern is the left part of the cup is not touching the brim entirely.
Still going long.
Can build a long term meaningful BP position from here until 2038. They'll help lead the way into the energy switch.
Last quarter prices of oil were still high no matter what trend it was going so this quarter will be good profits again.
My bet is that this diamond breaks out higher due to the overall low market cap of energy companies with regard to their...
BP. (BP.) - 30D expiry - We look to Sell at 463.80 (stop at 475.20)
We are trading at overbought extremes.
Broken out of the triangle formation to the downside.
We look for a temporary move higher.
Daily pivot is at 469.60.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be...
The PEAD projected a Neutral outlook for $BP after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 75%.
BP. (BP.) - Short Term - We look to Sell at 382.20 (stop at 404.10)
A bearish Head and Shoulders is forming. An overnight negative theme in Equities has led to a lower open this morning. A break of 365.30 is needed to confirm follow through negative momentum. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at...
BP. (BP.)
Short Term
We look to Buy at 390.00 (stop at 373.30)
The medium term bias remains bullish. The trend of higher lows is located at 377.50. Dips continue to attract buyers. Our overall sentiment remains bullish looking for higher levels.
Our profit targets will be 455.50 and 480.00
Resistance: 396.00 / 419.35 / 456.00
Support: 377.50 / 364.10 /...
