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BP

BP (BP.) in a 20 year downtrendJust throwing some lines on BP (BP.) and it is clearly trending downwards over 20 years. I have been checking how various stocks were affected by the 2009 crash. BP experienced a sharp correction in Oct 2008 and June 2010. However feb 2016 was another low point. This forms a preety much parallel gently downward sloping channel. This is indicated as reference for what may happen if we experience another crash. BP. is holding a key support level, but looks to be exhausted on the RSI (based on precedent), and likely entering a downtrend.
LSE:BP.Short
by optimystery
BP - Head and shoulders top forming?SELL – BP (BP.) BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company's segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. Fundamentals BP’s second quarter earnings came in flat as increased production offset lower oil prices. According to CEO Bob Dudley, “BP is right on target”. The initial reaction to the results was positive although this quickly reversed sending the shares sharply lower. Increased tensions with Iran and oil tankers being seized has not done much to the oil price, this may be suggesting that prices are high enough and that there is enough oil in circulation to match current demand. Best Broker Target Price: 700p (Barclays 04/04/2019) Worst Broker Target Price: 590p (Deutsche Bank 06/02/2019) Technical Analysis BP has closed below trend support that began in early 2016 on the weekly chart. This also took out horizontal support at 525p in the process. The shares attempted to rally in the following week only for the shares to be sold down again to form an inverted hammer candle. There is potentially a bigger threat forming in the shape of a head and shoulders top. The neckline of the pattern comes in at around 500p. A break of this level could trigger a deeper corrective move towards the 50%, 61.8% & 78.6% Fibonacci retracement levels over the medium term. Recommendation: Sell between 500-530p Stop: 570p Targets: 456p, 421p & 372p
LSE:BP.Short
by Investamate
BP - Neutral Iron Condor... BiPolar?Stock has been experiencing some recent options activity and increased IV. Closer look at price action showed what I like to call a "mirror image" pattern. Over the past year, price stayed bullish-neutral-bullish before peaking initially in January. It then hit max peak in June & began mirror image formation from then. Meaning, now it has had the reverse of the bullish-neutral-bullish pattern to have a bearish-neutral -bearish pattern. Clearly, we had the initial bearish move & are currently in the neutral part of the pattern. The expectation is to stay neutral for now, with readiness for bearish bias in the near future. 32/34/46/48 FEB19 IRON CONDOR @ 0.30 CREDIT General plan: Roll if necessary & if possible mainly to reduce risk. Target maximum profit, unless significant profit appears early. Comment or direct message for discussion, or on other interesting ideas! Follow for updates.
NYSE:BP
by themdtrader
Exxon_(NYSE: XOM)_May_14_2018The Exxon stock suffered setbacks after the Q1 earnings report where it emerged that the revenue did not grow in line with rising oil prices. Furthermore, the debt burden was quite huge at over USD 30 billion. Compared to competitors such as Chevron, Royal Dutch Shell, BP, XOM was lagging in key metrics. This triggered a sell-off that brought the stock price to almost 2 year lows since oil prices crashed. Now the stock has surged past two key support/ resistance levels and there seems to be a bullish support underneath. However, if the oil price rally does not continue, I expect XOM to fall to $75-$80 trading range. On the other hand, if the oil price stays at current levels or move higher (which I doubt as the oil market itself has fundamentally changed; lot more focus on renewables and with shale oil, it is beneficial for the producers to just keep pumping more), I am confident that XOM will be soon staring at $90. I am bullish on XOM in the long term. In the near term, I would wait to see if the price holds up at the key support level before taking on a position around $79-80. I will also wait to confirm that the slope of the 200 day SMA turns positive. The 20 day SMA has crossed the 50 day SMA in a bullish manner. For the confirmation of a long term bullish trend all three SMA need to have a positive slope with the short term SMA crossing the long term SMA.
NYSE:XOMLong
by advisacorp
New Yearly High?BP has broken out of a flag pattern.However, is going negative in the coppock curve. Also, the total revenue has been the same for a while now. Im going to be relying on volatility. If its short it will be only short-termly i believe and if it is Long then short-term increase followed by pull-back then increase until Q4. Also, the moving average is providing support. I put my Long on the next fibonacci level.I have put the Long and short take profit at 1% but I think the price change will be much bigger so if it is - I will extend take profit.
NYSE:BP
by BlackbearTrader
BP - Looks heavy, today's spike could be bull trapRising trend line has been breached, we also see - Head and Shoulders (H&S) Bear Flag H&S neckline and Bear flag floor coincide... offer support at 448.00 levels. The bearish breakdown was confirmed on Friday. Today's up move is nothing more than a bull trap... Prices likely to test 400.00 levels over the next week or so. The bearish view goes will with the fact that Brent oil has breached the year long rising trend line as discussed in the previous post.
LSE:BP.
by TipTVFinance