BP P.L.C. - 1H - Technical analysis published on 02/29/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 35.23 USD
My targets
34.04 USD (-2.58%)
33.45 USD (-4.26%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BP P.L.C. as long as the price remains well below 35.23 USD. The sellers' bearish objective is set at 34.04 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 33.45 USD. In case of crossing, the next objective would be the support located at 33.21 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7.3
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 34.94 USD. The price is lower by -0.06% since the last closing with the lowest point at 34.91 USD and the highest point at 35.19 USD. The deviation from the price is +0.09% for the low point and -0.71% for the high point.34.91
35.19
34.94
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BP P.L.C. indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 33.45 | 34.04 | 34.84 | 34.94 | 35.23 | 35.47 | 35.97 |
| Change (%) | -4.26% | -2.58% | -0.29% | - | +0.83% | +1.52% | +2.95% |
| Change | -1.49 | -0.90 | -0.10 | - | +0.29 | +0.53 | +1.03 |
| Level | Major | Intermediate | Major | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.37 | 34.65 | 34.81 | 35.09 | 35.25 | 35.53 | 35.69 |
| Camarilla | 34.84 | 34.88 | 34.92 | 34.96 | 35.00 | 35.04 | 35.08 |
| Woodie | 34.30 | 34.62 | 34.74 | 35.06 | 35.18 | 35.50 | 35.62 |
| Fibonacci | 34.65 | 34.82 | 34.93 | 35.09 | 35.26 | 35.37 | 35.53 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.29 | 34.67 | 35.02 | 35.40 | 35.75 | 36.13 | 36.48 |
| Camarilla | 35.18 | 35.25 | 35.31 | 35.38 | 35.45 | 35.51 | 35.58 |
| Woodie | 34.29 | 34.66 | 35.02 | 35.39 | 35.75 | 36.12 | 36.48 |
| Fibonacci | 34.67 | 34.95 | 35.12 | 35.40 | 35.68 | 35.85 | 36.13 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30.26 | 31.68 | 33.18 | 34.60 | 36.10 | 37.52 | 39.02 |
| Camarilla | 33.87 | 34.14 | 34.40 | 34.67 | 34.94 | 35.21 | 35.47 |
| Woodie | 30.29 | 31.70 | 33.21 | 34.62 | 36.13 | 37.54 | 39.05 |
| Fibonacci | 31.68 | 32.80 | 33.49 | 34.60 | 35.72 | 36.41 | 37.52 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 36.11 | |
| MACD (12,26,9): | -0.1200 | |
| Directional Movement: | -8.29 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 34.99 | |
| Parabolic SAR (0,02-0,02-0,2): | 35.13 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 35.42 | |
| Zig ZAG (10): | 34.95 | |
| VORTEX (21): | 0.8300 | |
| Stochastique (14,3,5): | 8.91 | |
| TEMA (21): | 34.93 | |
| Williams %R (14): | -96.15 | |
| Chande Momentum Oscillator (20): | -0.35 | |
| Repulse (5,40,3): | -0.3100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 2.17 |
| MA7: | 35.32 | |
| MA20: | 35.33 | |
| MA50: | 34.93 | |
| MA100: | 35.53 | |
| MAexp7: | 35.01 | |
| MAexp20: | 35.14 | |
| MAexp50: | 35.29 | |
| MAexp100: | 35.30 | |
| Price / MA7: | -1.08% | |
| Price / MA20: | -1.10% | |
| Price / MA50: | +0.03% | |
| Price / MA100: | -1.66% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.57% | |
| Price / MAexp50: | -0.99% | |
| Price / MAexp100: | -1.02% |
Quotes :
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15 min delayed data
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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:
- BP p.l.c. Announces Upsize to $1,300,000,000 of Cash Tender Offer of One Series of USD Notes
- BP p.l.c. Launches Cash Tender Offer for Up to $1 Billion Aggregate Principal Amount of One Series of USD Notes
- BP Fair Fund to Compensate Certain Investors in BP plc Ordinary Shares
- BP Fair Fund to Compensate Certain Investors in BP plc Ordinary Shares
- BP Fair Fund to Compensate Certain Investors in BP plc Ordinary Shares
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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