BP - BP.L

bp. daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...emIRPdNwsuskJQUe8%3D

This has now come towards the 550p area....the rsi is dtill making lower, lows, so i think it could come off a tad lower to test the 200 day ema line on the daily....so around 520p area....

atb, wdik, dyor,
trendfriend

In the short term....a possible small p/b here....down towards the 450p, possibly to 435 trendline test.
Any dips should be buying opps...

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Just correcting a typo, i think this should come back down to 535p/550p area imvho....not 435/450p as i wrote in the post below.....although 435p would be nice place to get in!! lol...

atb,
trendfriend

This is a stock i was looking to buy, but i thought it would drop lower towards 400p! partle because the ftse looked like it would fall of cliff...a couple of months ago!..
So i didn't get in!!

Anyway. to the charts...
BP. Monthly.
uk.advfn.com/p.php?pid=chartscreenshotsh...IBO6eqO1KVo0eDnAU%3D

Clear breakout form a 2007 resistance line, which should be a trend change here...

bp. daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...GDAiF9+1AGstme31clE=

In the short term....a possible small p/b here....down towards the 450p, possibly to 435 trendline test.
Any dips should be buying opps...

only a close below 495p, would cancel the bullish view.

so short term, a small p/b....long term up above 700p imvho....

atb, wdik, dyor,
trendfriend

bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...I7pBBe0DCyKIaktSlqM=

its been a good 5 weeks since we looked at this.....and in those 5 weeks nothing much has happened.....it was around 485p when we looked at this on the 7th of Feb...it's now at 465p area...

A closer look does actually show a significant technical event here imvho...because in that time this has developed what looks to be almost certainly a bear flag imvho....bang underneath the 200 day ema line fetaure.....and i think it's about to break down....and that flag breakdown should give a downside target of about 400p.....but lets see...

A weekly close, on a end of week closing basis back above 482p....cancels the bear view...but the setup is still bearish here.....and that is unlikely atm...

atb, wdik, dyor,
trendfriend

quick look here at BP.
bp = daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...re%2FtfxUYv0TWWnQ%3D

the bearish rsi div, was the signal to get out....
the break below and subsequent failure to get above teh 20 day ema line was the signal a nasty fall was in the offing imho.....

This has broken below the 200 day ema line.....and the retest doesn't look very convincing imvho.
Looks like a bounce from oversold rsi levels......and now ready for new leg lower.....

bp. - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...cyumb+8Lj0Fu5/53Aoc=

The weekly shows the bounce from 452p being the 200 day ema line on the weekly chart....
The main trendline looks vulnerable...and the rsi has fallen below the neutral 50 level all indicating further downside...

485 and 475p crucial must hold levels...below 475>452p>437p>410p

by all intents and puposes, at the very least this should retest 452p imvho because the technical set up is bearish....

A weekly close above 485/490p area opens up the highs again....

atb, wdik, dyor,
trendfriend

LTV,
Please see the attached chart...
You can see it went to 452 yday and then back up.... ta G