BP PLC-SPONS ADR (BP) Stock Technical Analysis
NYSE:BP - New York Stock Exchange, Inc. - US0556221044 - ADR - Currency: USD
Overall BP gets a technical rating of 8 out of 10. Although BP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
In the last month BP has a been trading in the 30.32 - 33.06 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
BP has an average volume of 9470950 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, BP outperforms 48% of them, which is more or less in line with the market.
BP is part of the Oil, Gas & Consumable Fuels industry. There are 208 other stocks in this industry, BP did better than 58% of them.
BP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BP is lagging the market.
BP has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
30.61
35.67
When analyzing the support we notice one important area.
- A support zone ranging from 30.92 to 32.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 32.64 to 32.88. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 35.01 to 35.32. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for BP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BP is up. |
| ChartMill Relative Strength | 48.41 | NEUTRAL | BP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.9 | NEUTRAL | The RSI value for BP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests BP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 35.88 | NEUTRAL | The Stochastics value for BP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.03 | MEDIUM VOLATILITY | The ATR as a percentage value for BP suggests some volalility. |
| Average Directional Index/ADX (14) | 28.45 | POSITIVE | The high ADX value value for BP suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 32.89 | 31.58 | 1.32 (4.00%) | 25.00% |
| An entry @32.89. This is a Buy Stop order right above the resistance zone. | An exit @31.57. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.32 points, which is 4.00%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
32.49
+0.74 (+2.33%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg2.33%
1 Week-0.55%
2 Weeks0.81%
1 Month7.4%
3 Month9.14%
6 Month0.68%
12 Month-2.32%
2 Year-12.61%
3 Year5.35%
5 Year55.23%
10 Year-3.13%
15 Year-6.72%
Volatility
ATR(14)0.6
ATR(20)%2.03%
ATR Inc25.35%
Range Today0.66
ADR(20)0.55
ADR(20)%1.7%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS48.41
Mansfield-0.34
10 Day High33.07
10 Day Low31.59
20 Day High33.07
20 Day Low30.32
52 Week High35.55
52 Week Low25.22
CS1 End32.38
CR1 Start32.64
Volume & EV
DER(3)1.51%
DER(5)2.09%
Volume13.56M
Volume Incr4.9%
Vol(5)7.91M
Vol(50)9.47M