BP PLC-SPONS ADR (BP) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BP - US0556221044 - ADR
Taking everything into account, BP scores 1 out of 10 in our technical rating. BP has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
BP has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
32.44
We found 2 important support areas.
- Support @33.88 from a trend line in the daily time frame.
- A support zone ranging from 32.77 to 33.12. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 34.55 to 34.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 36.25 to 36.59. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A resistance zone ranging from 37.35 to 37.36. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for BP is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BP is down. |
| ChartMill Relative Strength | 52.3 | NEUTRAL | BP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BP is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of BP is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 45.58 | NEUTRAL | The RSI value for BP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests BP has a negative trend. |
| Stochastics (14,3) | 25.59 | NEUTRAL | The Stochastics value for BP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.17 | MEDIUM VOLATILITY | The ATR as a percentage value for BP suggests some volalility. |
| Average Directional Index/ADX (14) | 19.58 | NEGATIVE | The low ADX value for BP suggests a weak or negative trend. |
34.29
+0.16 (+0.47%)
BP PLC-SPONS ADR / BP FAQ
Can you provide the ChartMill technical rating for BP PLC-SPONS ADR?
ChartMill assigns a technical rating of 1 / 10 to BP.
Can you provide the trend direction for BP PLC-SPONS ADR?
The current trend direction for BP PLC-SPONS ADR (BP) is Bearish.
What is the RSI signal for BP PLC-SPONS ADR (BP) stock?
BP PLC-SPONS ADR (BP) has an RSI value of 45.5752. This indicates that the stock is currently neutral.
Can you provide the MACD signal for BP PLC-SPONS ADR?
The MACD indicator for BP PLC-SPONS ADR (BP) has a value of -0.0147894, indicating a bearish trend.
What are the support and resistance levels for BP PLC-SPONS ADR (BP) stock?
BP PLC-SPONS ADR (BP) has a support level at 33.88 and a resistance level at 34.55. Check the full technical report for our detailed analysis of BP support and resistance levels.