BP p.l.c (BP) “On a long-term technical basis, the stock (BP) is trading below its 200-day moving average which generally implies it is in a negative trend.

The stock has support at 14.69 and 12.54. If the stock breaks down through support at 14.69 then it will probably continue lower to 12.54. The stock has resistance at 16.38 and at 17.74. If the stock breaks up through resistance at 16.38 then it will probably continue higher to 17.74. The 200-day moving average is at 24.17. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (12.41), and turning up, which suggests a pause or possible rebound, especially if near support. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”

BP p.l.c (BP) “On a long-term technical basis, the stock (BP) is trading below its 200-day moving average which generally implies it is in a negative trend.

The stock has support at 15.51 and 12.54. If the stock breaks down through support at 15.51 then it will probably continue lower to 12.54. The stock has resistance at 16.38 and at 19.75. If the stock breaks up through resistance at 16.38 then it will probably continue higher to 19.75. The 200-day moving average is at 25.34. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 15.51 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (15.84).”

BP p.l.c (BP) “On a long-term technical basis, the stock (BP) is trading below its 200-day moving average which generally implies it is in a negative trend.

The stock has support at 15.51 and 11.89. If the stock breaks down through support at 15.51 then it will probably continue lower to 11.89. The stock has resistance at 20.96 and at 22.03. If the stock breaks up through resistance at 20.96 then it will probably continue higher to 22.03. The 200-day moving average is at 26.38. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 15.51 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (5.92).”