bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh.../3wcGbblQmwJmC5vCWc=
Looking at this closely....the more i look at it....the more bearish it seems to look imvho.
See the two gaps lower....one effectively below the key 200 day ema line....
the second gap lower as it was fighting to hold on to the 50 day ema line...
Now it seems to be hanging around the 250p support area.....never a good idea to retest a support....
The rsi....is also below the 50 neutral level which is also indicative of more downside...
Seems to stock specific....as the main markets and crude have been doing ok.....
Lets see....i think 170p looks very possible here...if it loses 250p and stays below that number...
I think caution here with bp.....imho
I see what you say to add more if it drops.....something i used to do quite often....but it rarely works out well....
Personally i'm trying to change the why i trade....
i'm making an effort not to ave down on losers....and trying to avoid stocks that are not technically bullish....
Instead looking to add to winners into strength
That way i would on the right side of momentum...(hopefully anyway)
atb, wdik, dyor,
trendfriend