timwest
Long

BP P.L.C. - BP - Daily - Down to Key Support - $2.50 upside

NYSE:BP   BP PLC
302 6 5
Oversold on news to old support.

Tim 12:05PM EST Tuesday, Sep 9, 2014
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
I really like the way you analysis the market thanks for helping me to learn
+1 Reply
I4
2 years ago
Once again, it works like a charm.
Reply
elcololp
2 years ago
my friend...what do you think now? Time to short?
Reply
timwest PRO elcololp
2 years ago
Good question - so many oil/related names are under pressure. The offset to this nice rally to the higher "key level" before failing and hitting the stop was to be short CVX that I've been shorting the whole way down. The offshore drillers are getting pounded and those are at interesting levels down here. So, my answer is to "not short BP".
+1 Reply
HamedAghajani PRO timwest
2 years ago
Will you republish your Long idea, if you are not biased at the moment. Thanks, Hamed
Reply
timwest PRO HamedAghajani
2 years ago
The whole sector is looking for a bottom... XLE, OIH, CVX, MPC, amongst many others are nice and oversold. A true test of a bull market is the rotation from sector to sector leading the market. The oils led us up first, then Russell 2000 (IWM), then we've been in a rotating decline since... IWM peaked in FEBRUARY, and oil stocks peaked this summer. I'll re-look at BP next week. I don't mind if you ask again about it (to remind me). Thanks Hamed!
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out