BP

TF,all
What is your views on BP?
I am keen to add these to my ISA..
Ta
G

bp daily. Chart from 5 July 2017.
uk.advfn.com/p.php?pid=chartscreenshotsh...H37S+LCUdch9vPUVOPU=

Nice easy, this should break out of this triangle soon, which should present a nice easy trade in the direction of the break.

Long above the triangle, and short on a down break of the triangle.

I think will eventual hold the support trendline and break up, so if you really like these buying around the 440p area, is not a bad idea. Otherwise one to watch for now.

atb, wdik, dyor,
trendfriend

A quick look at BP, as it's been in the news today.

first the daily, gapped down(just a small gap) but that's not looking very good with that candle, closed right on the 50 day ema line, so below that level, this could well go to around 425p short term, to the 200 day ema line and current trendline channel. Note the massive bearish divergence!!


What is interesting here ia long term monthly chart. This needs to break the overhead trendline and fly away!!
until then a longer term move back to 300p area cannot be ruled out.

as always folks dyor, wdik, atb
trendfriend

Trendfriend wrote: This is now in this falling trend channel...
It made a decent attempt to break out..
uk.advfn.com/p.php?pid=chartscreenshotsh...8i0%3D&symbol=L%5EBP .

A 1,2,3 low is also possible...
uk.advfn.com/p.php?pid=chartscreenshotsh...1MY%3D&symbol=L%5EBP .

This has results today... i favour a move down, to the lows...and it will take the whole sector with it??
Jmho,
Regards,
Trendfriend.

Just as i thought.....lol..back to the lows........
This may well go sub 300p now imho.............
Looking to buy for a long term hold at some point...
Trendfriend.

Hey TF, I love you posts, so please don't think it is anything like 2 Vs 1, just different points of view.

As you point out, the POO is revisiting lows and some of the oil companies who have enjoyed a Bull run have soared and look to have defied the move in POO back down....to me, that in itself could be a warning of a downward push, I "sort of" agree with this article's stance:

www.iii.co.uk/articles/276457/warning-signals-everywhere

All the fun of the markets

Off course you guys are correct in what you say...
Except oil is still near the lows, and BP has rallied from 325p to 390p (and above 400p last week)
Is that not a good sign, the weakness in these stocks is ending?? and as BP is the biggest oil stock, the others are likely to follow....
Anyway not going argue, lets just say you guys are right, as it's two against one on this, and i'm totally outnumbered!! lol :