BP PLC-SPONS ADR (BP) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:BP • US0556221044
Taking everything into account, BP scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, BP is only an average performer.
- Both the short term and long term trends are positive. This is a very positive sign.
- BP is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month BP has a been trading in the 34.73 - 39.51 range, which is quite wide. It is currently trading near the high of this range.
- BP has an average volume of 8899140 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, BP turns out to be only a medium performer in the overall market: it outperformed 60% of all stocks.
- BP is part of the Oil, Gas & Consumable Fuels industry. There are 206 other stocks in this industry, BP did better than 48% of them.
- Volume is considerably higher in the last couple of days.
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.
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32.44
When analyzing the support we can see 3 important areas.
- A support zone ranging from 35.57 to 36.42. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @34.40 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 one important area.
- A resistance zone ranging from 39.02 to 39.23. 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 | 60.29 | 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) | 57.99 | NEUTRAL | The RSI value for BP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests BP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 68.89 | NEUTRAL | The Stochastics value for BP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.7 | MEDIUM VOLATILITY | The ATR as a percentage value for BP suggests some volalility. |
| Average Directional Index/ADX (14) | 29.09 | POSITIVE | The high ADX value value for BP suggests a strong trend. |
38.55
+1.58 (+4.27%)
BP PLC-SPONS ADR / BP FAQ
Can you provide the ChartMill technical rating for BP PLC-SPONS ADR?
ChartMill assigns a technical rating of 8 / 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 Bullish.
What is the RSI signal for BP PLC-SPONS ADR (BP) stock?
BP PLC-SPONS ADR (BP) has an RSI value of 57.9931. 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 0.0345294, 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 36.42 and a resistance level at 39.02. Check the full technical report for our detailed analysis of BP support and resistance levels.