Beach Energy (BPT.ASX): Long-Term Compression Near Historical Su📚 Description
This monthly chart of Beach Energy (BPT.ASX) reveals a multi-decade compression pattern forming near historical support levels. With price currently at 1.140 AUD, the setup invites a macro-technical perspective for long-term positioning.
🔍 Key Observations
• Historical Range: Since
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−0.19 USD
−28.37 M USD
1.36 B USD
About Beach Energy Limited
Sector
Industry
CEO
Brett Woods
Website
Headquarters
Adelaide
Founded
1961
ISIN
US0733331062
FIGI
BBG000TSS2V7
Beach Energy Ltd. engages in the exploration, development and production of hydrocarbons. It operates through following geographical segments: South Australia (SA), Western Australia (WA), Victoria, and New Zealand. The company was founded by Reg Sprigg in 1961 and is headquartered in Adelaide, Australia.
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In this edition, we'll be looking at ASX:BPT ...
I believe this code is at a point of potential volatility.
If price can hold above $1.735 ... Bullish potential may be unlocked.
My key upside targets include:
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Support Area at $1.5This stock has been lagging it's peers due to weaker fundamentals. The energy sector is still strong, with no sympathy for BPT as of yet.
BPT currently at a key support level showing strength and forming higher lows, entry for low risk high RR.
Trade Open: 1.48
Risk: 1.45
Target: 1.7, will follow
BPT approaching an historic resistance zone -$1.70 to $1.80Beach Energy has found some legs in the last couple of week. I like what I'm seeing. It's coming off a very low base on the weekly stochastics and there's room to build some real long term momentum here.
BPT has an historic respect for the 1.70 to 1.80 zone that's acted as a major support and resis
BPT - Beach Energy Could Go to 92cNow that it's taken such a big dive down, it looks like it could go back to previous support of 92c. However it could jump back above the trend line and become bullish again.
COVID has taken a hit to the oil industry, including the new agreement in the US to have 50% electric cars manufactured and
BPT - Bullish Trade PlanAfter making a Higher High and then pulling back BPT has bounced off strongly giving a strong break to the upsode with High Volume . It bounced off exactly from the High Profile Volume Zone (confluence) and MACD giving a Bullish Cross, indicating that it is most likely to head higher towards its pre
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Summarizing what the indicators are suggesting.
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An aggregate view of professional's ratings.
Neutral
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Displays a symbol's price movements over previous years to identify recurring trends.