BP PLC-SPONS ADR (BP) Stock Technical Analysis
USA - NYSE:BP - US0556221044 - ADR
We assign a technical rating of 10 out of 10 to BP. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BP is showing a nice and steady performance.
Although BP has an excellent technical rating, it does not present a decent entry opportunity 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
32.44
2 important support areas can be observed.
- A support zone ranging from 33.84 to 34.75. 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.
We found 1 important resistance area.
- Resistance @36.59 from a horizontal line in the weekly 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 | UP | POSITIVE | The short term trend for BP is up. |
| ChartMill Relative Strength | 80.81 | POSITIVE | BP has a high relative strength, it outperformed 80.81% 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) | 61.37 | NEUTRAL | The RSI value for BP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.16 | POSITIVE | The MACD value suggests BP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 68.33 | NEUTRAL | The Stochastics value for BP is a neutral value. |
| Average True Range in percent/ATR (20) | 1.8 | LOW VOLATILITY | The low ATR as a percentage value for BP suggests low volalility. |
| Average Directional Index/ADX (14) | 24.91 | NEUTRAL | The ADX value for BP suggests a possible start of a new trend. |
36.53
+0.04 (+0.11%)
BP PLC-SPONS ADR / BP FAQ
Can you provide the ChartMill technical rating for BP PLC-SPONS ADR?
ChartMill assigns a technical rating of 10 / 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 61.3737. 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 0.156558, indicating a bearish trend.
What is the support and resistance level for BP stock?
BP PLC-SPONS ADR (BP) has a support level at 34.75 and a resistance level at 36.59. Check the full technical report for our detailed analysis of BP support and resistance levels.