BP is approaching our first resistance at 43.43 (horizotnal swing high resistance, 61.8% fibonacci extension, 61.8% fiboancci retracmeent) where a strong drop might occur below this level pushing price down to our major support at 40.72 (horizontal pullback support, 38.2% fibonacci retracement).
Stochastic (55,5,3) is also appraoching resistance where we might...
BP reversed off its resistance at 43.07 (100% Fiboancci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 40.81.
Stochastic has also reversed off its resistance.
BP CHARTS LOOK GREAT!
INDICATORS ARE BULLISH AND IN AN UPTREND
THE COMPANY IS UNDERVALUED AND THE STOCK IS DIRT CHEAP PAYING A 5.8% DIVIDEND
IF YOU BUY IT NOW, AFTER HOURS, YOU SHOULD BE LOCKING IN THE .61 CENTS PAYABLE ON EX-DIVIDEND DATE, 2/14/2019, TOMORROW
RECENT EARNINGS WERE FABULOUS BLOWING PAST WALL STREET ESTIMATES
BP is approaching its resistance at 41.45 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where we expect to see a reversal to its support at 39.14.
Stochastic is approaching resistance where a corresponding reversal could occur.
BP is testing its resistance at 38.62 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 36.99 (horizontal swing low support).
Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
Stock has been experiencing some recent options activity and increased IV. Closer look at price action showed what I like to call a "mirror image" pattern. Over the past year, price stayed bullish-neutral-bullish before peaking initially in January. It then hit max peak in June & began mirror image formation from then. Meaning, now it has had the reverse of the...
BP looks to have settled nicely on the .618 Fib retracement
Support is very strong in this 40 dollar area
Bullish Divergence on RSI
Expect a little bit more accumulation and start of an uptrend from here