BP Stock Forecast
Green day on Wednesday for BP stock after gaining 0.127%
(Updated on Apr 24, 2024)
The BP stock price gained 0.127% on the last trading day (Wednesday, 24th Apr 2024), rising from $39.29 to $39.34. It has now gained 4 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 1.28% from a day low at $39.08 to a day high of $39.58. The price has been going up and down for this period, and there has been a -0.2% loss for the last 2 weeks. Volume fell on the last day by -4 million shares and in total, 8 million shares were bought and sold for approximately $295.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.77% during the next 3 months and, with a 90% probability hold a price between $42.61 and $45.46 at the end of this 3-month period.
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BP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -0.782%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The BP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $38.71 and $38.11. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for BP stock
BP finds support from accumulated volume at $39.29 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 $0.500 between high and low, or 1.28%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: $37.98 (-3.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (BP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BP plc to open at $39.33, and during the day (based on 14 day Average True Range), to move between $38.68 and $40.00, which gives a possible trading interval of +/-$0.663 (+/-1.69%) up or down from last closing price. If BP plc takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.29 (0.13%) than the resistance at $39.42 (0.20%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BP stock to perform well in the short-term.
Current score: 1.496 Buy Candidate Unchanged
Predicted Opening Price for BP plc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $39.33 ( 0.0169%) | $39.34 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 39.83 | 1.25 % | |
| R2 | 39.64 | 0.769 % | ||
| R1 | 39.52 | 0.469 % | ||
| Current price: | 39.34 | |||
| Support | S1 | 39.14 | -0.502 % | |
| S2 | 39.02 | -0.80 % | ||
| S3 | 38.83 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.65 | 0.788 % | |
| R2 | 39.44 | 0.254 % | ||
| R1 | 39.42 | 0.203 % | ||
| Current price | 39.34 | |||
| Support | S1 | 39.29 | -0.127% | |
| S2 | 38.91 | -1.09% | ||
| S3 | 36.39 | -7.50% |
BP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Feb 15, 2024 | Mar 28, 2024 | $0.431 | 1.14% |
| 2 | Oct 31, 2023 | Nov 09, 2023 | Dec 19, 2023 | $0.436 | 1.23% |
| 3 | Aug 01, 2023 | Aug 10, 2023 | Sep 22, 2023 | $0.436 | 1.13% |
| 4 | May 02, 2023 | May 11, 2023 | Jun 23, 2023 | $0.397 | 1.14% |
| 5 | Feb 07, 2023 | Feb 16, 2023 | Mar 31, 2023 | $0.397 | 1.05% |
FAQ
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