BP Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy Signal from Moving Average: Indicates potential upward movement.
Sell Signal (MA)
Sell Signal from Moving Average: Indicates potential downward movement.
AI Analysis of BP
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Stronger technical forecast for BP stock price after Thursday trading
(Updated on Oct 03, 2024)
Hold candidate since Oct 03, 2024
The BP stock price gained 0.278% on the last trading day (Thursday, 3rd Oct 2024), rising from $32.37 to $32.46. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.03% from a day low at $31.89 to a day high of $32.54. The price has been going up and down for this period, and there has been a -0.92% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $348.66 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $32.88 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.28% during the next 3 months and, with a 90% probability hold a price between $27.02 and $29.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
BP Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, September 26, 2024, and so far it has risen 5.42%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BP stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $32.74. On a fall, the stock will find some support from the short-term average at $31.74. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for BP stock
BP finds support from accumulated volume at $32.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.649 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 1.97%.
Our recommended stop-loss: $31.08 (-4.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (BP) For The Upcoming Trading Day Of Friday 4th
For the upcoming trading day on Friday, 4th we expect BP plc to open at $32.30, and during the day (based on 14 day Average True Range), to move between $31.83 and $33.09, which gives a possible trading interval of +/-$0.634 (+/-1.95%) up or down from last closing price. If BP plc takes out the full calculated possible swing range there will be an estimated 3.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.09 (1.14%) than the resistance at $34.80 (7.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BP plc stock A Buy?
BP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score:
-0.833
Hold/Accumulate
Upgraded
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Predicted Fair Opening Price
Predicted fair opening price on October 4, 2024 - $32.30 ( 0.502%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for BP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.95 | 1.50% |
| R2 | 32.70 | 0.733% |
| R1 | 32.54 | 0.261% |
| Price | 32.46 | |
| S1 | 32.05 | -1.27% |
| S2 | 31.90 | -1.74% |
| S3 | 31.65 | -2.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.96 | 7.70% |
| R2 | 34.81 | 7.24% |
| R1 | 34.80 | 7.21% |
| Price | 32.46 | |
| S1 | 32.09 | -1.14% |
| S2 | 31.15 | -4.04% |
| S3 | 30.79 | -5.14% |
BP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 09, 2024 | Aug 09, 2024 | Sep 20, 2024 | $0.475 | 1.46% |
| 2 | May 07, 2024 | May 16, 2024 | Jun 28, 2024 | $0.436 | 1.21% |
| 3 | Feb 06, 2024 | Feb 15, 2024 | Mar 28, 2024 | $0.431 | 1.14% |
| 4 | Oct 31, 2023 | Nov 09, 2023 | Dec 19, 2023 | $0.436 | 1.23% |
| 5 | Aug 01, 2023 | Aug 10, 2023 | Sep 22, 2023 | $0.436 | 1.13% |
FAQ
Click here for our free guide on how to buy BP Stock.
