BP trade ideas
BP approaching resistance, potential drop! 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 see a corresponding drop in price.
BULLISH CHARTS, UNDERVALUED, 5.8% DIVIDEND, BUY B/F TOMORROW!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
GOING LONG!
POSITION: 250,000 SHARES
COST BASIS: $42.30
BP Approaching Resistance, Potential Reversal!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 Testing Resistance, Potential Reversal!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.
BP - Neutral Iron Condor... BiPolar?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 bullish-neutral-bullish pattern to have a bearish-neutral -bearish pattern.
Clearly, we had the initial bearish move & are currently in the neutral part of the pattern. The expectation is to stay neutral for now, with readiness for bearish bias in the near future.
32/34/46/48 FEB19 IRON CONDOR @ 0.30 CREDIT
General plan:
Roll if necessary & if possible mainly to reduce risk.
Target maximum profit, unless significant profit appears early.
Comment or direct message for discussion, or on other interesting ideas!
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BP- to flop or not to flopA rare non crypto analysis but sometimes its nice for a price not to get heavily affected by a higher up factor i.e altcoins reliance on Bitcoin.
0.786 fib from 2010 high being tested and got rejected first time around. Very positive FA surrounding BP in the last 6 months so it will be interesting to see if faith is brought back to investors.
Entry price for a long term trade would be at about 596 to avoid a double top flop.
#BP looking for test over to highs in 2018With oil prices sustaining higher prices, I am looking for profit margins to increase for BP.
I have used the Fib extension tools confluencing with Major resistance levels for some price targets.
These price targets may seem far fetched but as long as WTI and Brent hold above a 8% deviation I think its possible.
