BP P.L.C.

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	BP
ISIN:

BP P.L.C. - 1H - Technical analysis published on 02/06/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

28%

My opinion

Bullish above 35.91 USD

My targets

36.48 USD (+0.66%)

37.62 USD (+3.81%)

My analysis

The bullish trend is currently very strong on BP P.L.C.. As long as the price remains above the support at 35.91 USD, you could try to benefit from the boom. The first bullish objective is located at 36.48 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 37.62 USD as an objective. Crossing it would then enable buyers to target 38.98 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BP P.L.C. rating 36.24 USD. The price has increased by +5.84% since the last closing with the lowest point at 35.74 USD and the highest point at 36.24 USD. The deviation from the price is +1.40% for the low point and 0% for the high point.

35.74

36.24

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this BP P.L.C. chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : 1 hour

Bullish trend reversal : Moving Average 50

Type : Bullish

Timeframe : 1 hour

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : 1 hour

Bullish trend reversal : adaptative moving average 100

Type : Bullish

Timeframe : 1 hour

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour

MACD indicator is back over 0

Type : Bullish

Timeframe : 1 hour

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	35.28	35.67	35.91	36.24	36.48	37.62	38.98
Change (%)	-2.65%	-1.57%	-0.91%	-	+0.66%	+3.81%	+7.56%
Change	-0.96	-0.57	-0.33	-	+0.24	+1.38	+2.74
Level	Intermediate	Major	Intermediate	-	Minor	Minor	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	33.38	33.65	33.95	34.22	34.52	34.79	35.09
Camarilla	34.08	34.14	34.19	34.24	34.29	34.35	34.40
Woodie	33.39	33.66	33.96	34.23	34.53	34.80	35.10
Fibonacci	33.65	33.87	34.01	34.22	34.44	34.58	34.79

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	32.63	33.55	34.09	35.01	35.55	36.47	37.01
Camarilla	34.24	34.37	34.51	34.64	34.77	34.91	35.04
Woodie	32.45	33.46	33.91	34.92	35.37	36.38	36.83
Fibonacci	33.55	34.10	34.45	35.01	35.56	35.91	36.47

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	30.63	32.07	33.59	35.03	36.55	37.99	39.51
Camarilla	34.29	34.56	34.83	35.10	35.37	35.64	35.91
Woodie	30.66	32.09	33.62	35.05	36.58	38.01	39.54
Fibonacci	32.07	33.20	33.90	35.03	36.16	36.86	37.99

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	67.26
MACD (12,26,9):	0.0000
Directional Movement:	20.86
AROON (14):	42.86
DEMA (21):	34.82
Parabolic SAR (0,02-0,02-0,2):	33.98
Elder Ray (13):	1.17
Super Trend (3,10):	34.85
Zig ZAG (10):	36.09
VORTEX (21):	0.9500
Stochastique (14,3,5):	72.28
TEMA (21):	34.89
Williams %R (14):	-4.19
Chande Momentum Oscillator (20):	1.30
Repulse (5,40,3):	0.4400
ROCnROLL:	1
TRIX (15,9):	-0.0800
Courbe Coppock:	0.28

MA7:	35.25
MA20:	34.78
MA50:	35.20
MA100:	36.28
MAexp7:	35.10
MAexp20:	34.89
MAexp50:	34.95
MAexp100:	34.92
Price / MA7:	+2.81%
Price / MA20:	+4.20%
Price / MA50:	+2.95%
Price / MA100:	-0.11%
Price / MAexp7:	+3.25%
Price / MAexp20:	+3.87%
Price / MAexp50:	+3.69%
Price / MAexp100:	+3.78%

Quotes : - 15 min delayed data - NYSE Stocks

News

Don't forget to follow the news on BP P.L.C.. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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