BP P.L.C. - Daily - Technical analysis published on 10/09/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
33%
17%
50%
My opinion
Bearish under 32.54 USD
My targets
30.79 USD (-3.75%)
29.66 USD (-7.28%)
My analysis
The bearish basic trend is very strong on BP P.L.C. but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 32.54 USD. Crossing the first support at 30.79 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 29.66 USD as an objective. Crossing it would then enable sellers to target 23.82 USD. Caution, a return to above the resistance located at 32.54 USD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
4.8
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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Additional analysis
Quotes
The BP P.L.C. rating is 31.99 USD. The price is lower by -0.13% since the last closing and was traded between 31.59 USD and 32.00 USD over the period. The price is currently at +1.27% from its lowest and -0.03% from its highest.31.59
32.00
31.99
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of BP P.L.C. indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
In fact, of the 18 technical indicators analysed by Central Analyzer, 6 are bullish, 9 are neutral and 3 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 23.82 | 29.66 | 30.79 | 31.99 | 32.54 | 34.32 | 35.06 |
| Change (%) | -25.54% | -7.28% | -3.75% | - | +1.72% | +7.28% | +9.60% |
| Change | -8.17 | -2.33 | -1.20 | - | +0.55 | +2.33 | +3.07 |
| Level | Intermediate | Major | Major | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.16 | 31.51 | 31.77 | 32.12 | 32.38 | 32.73 | 32.99 |
| Camarilla | 31.86 | 31.92 | 31.97 | 32.03 | 32.09 | 32.14 | 32.20 |
| Woodie | 31.12 | 31.49 | 31.73 | 32.10 | 32.34 | 32.71 | 32.95 |
| Fibonacci | 31.51 | 31.74 | 31.89 | 32.12 | 32.35 | 32.50 | 32.73 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30.00 | 30.65 | 31.76 | 32.41 | 33.52 | 34.17 | 35.28 |
| Camarilla | 32.40 | 32.56 | 32.72 | 32.88 | 33.04 | 33.20 | 33.36 |
| Woodie | 30.24 | 30.77 | 32.00 | 32.53 | 33.76 | 34.29 | 35.52 |
| Fibonacci | 30.65 | 31.32 | 31.73 | 32.41 | 33.08 | 33.49 | 34.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.53 | 29.02 | 30.21 | 31.70 | 32.89 | 34.38 | 35.57 |
| Camarilla | 30.65 | 30.90 | 31.14 | 31.39 | 31.64 | 31.88 | 32.13 |
| Woodie | 27.37 | 28.95 | 30.05 | 31.63 | 32.73 | 34.31 | 35.41 |
| Fibonacci | 29.02 | 30.05 | 30.68 | 31.70 | 32.73 | 33.36 | 34.38 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 45.24 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | -11.32 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 32.04 | |
| Parabolic SAR (0,02-0,02-0,2): | 30.78 | |
| Elder Ray (13): | -0.47 | |
| Super Trend (3,10): | 31.28 | |
| Zig ZAG (10): | 31.96 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 66.97 | |
| TEMA (21): | 32.23 | |
| Williams %R (14): | -48.01 | |
| Chande Momentum Oscillator (20): | -0.89 | |
| Repulse (5,40,3): | 1.2300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 0.42 |
| MA7: | 32.42 | |
| MA20: | 32.20 | |
| MA50: | 32.87 | |
| MA100: | 34.11 | |
| MAexp7: | 32.27 | |
| MAexp20: | 32.32 | |
| MAexp50: | 32.93 | |
| MAexp100: | 33.77 | |
| Price / MA7: | -1.33% | |
| Price / MA20: | -0.65% | |
| Price / MA50: | -2.68% | |
| Price / MA100: | -6.22% | |
| Price / MAexp7: | -0.87% | |
| Price / MAexp20: | -1.02% | |
| Price / MAexp50: | -2.85% | |
| Price / MAexp100: | -5.27% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The latest news and videos published on BP P.L.C. at the time of the analysis were as follows:
- Archaea Energy and Republic Services celebrate first RNG plant in landmark partnership
- BP p.l.c. Announces Early Tender Results of Cash Tender Offer for Up to $1.3 Billion Aggregate Principal Amount of One Series of USD Notes
- BP p.l.c. Announces Upsize to $1,300,000,000 of Cash Tender Offer of One Series of USD Notes
- BP p.l.c. Launches Cash Tender Offer for Up to $1 Billion Aggregate Principal Amount of One Series of USD Notes
- BP Fair Fund to Compensate Certain Investors in BP plc Ordinary Shares
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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