BP PLC-SPONS ADR (BP) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BP - US0556221044 - ADR
Taking everything into account, BP scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, BP has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, BP also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 34.89, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BP in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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32.44
We found 2 important support areas.
- A support zone ranging from 34.09 to 34.89. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- 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.
2 important resistance areas can be observed.
- A resistance zone ranging from 36.52 to 36.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @37.36 from a horizontal line 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 | UP | POSITIVE | The long term trend for BP is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BP is neutral. |
| ChartMill Relative Strength | 81.72 | POSITIVE | BP has a high relative strength, it outperformed 81.72% off all stocks 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) | 53.88 | NEUTRAL | The RSI value for BP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests BP has a negative trend. |
| Stochastics (14,3) | 38.67 | NEUTRAL | The Stochastics value for BP is a neutral value. |
| Average True Range in percent/ATR (20) | 1.91 | LOW VOLATILITY | The low ATR as a percentage value for BP suggests low volalility. |
| Average Directional Index/ADX (14) | 20.74 | NEUTRAL | The ADX value for BP suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 36.60 | 35.39 | 1.21 (3.32%) | 25.00% |
| An entry @36.60. This is a Buy Stop order right above the resistance zone. | An exit @35.39. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.21 points, which is 3.32%. | For a 0.83% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
35.98
+0.26 (+0.73%)
BP PLC-SPONS ADR / BP FAQ
Can you provide the ChartMill technical rating for BP PLC-SPONS ADR?
ChartMill assigns a technical rating of 9 / 10 to BP.
What is the trend direction for BP stock?
The current trend direction for BP PLC-SPONS ADR (BP) is Bullish.
What is the RSI signal for BP PLC-SPONS ADR (BP) stock?
BP PLC-SPONS ADR (BP) has an RSI value of 53.8793. This indicates that the stock is currently neutral.
What is the MACD signal for BP PLC-SPONS ADR (BP) stock?
The MACD indicator for BP PLC-SPONS ADR (BP) has a value of -0.0889676, indicating a bearish trend.
What is the support and resistance level for BP stock?
BP PLC-SPONS ADR (BP) has a support level at 34.89 and a resistance level at 36.52. Check the full technical report for our detailed analysis of BP support and resistance levels.