(BP) Long-term investment analysis

November 30, 2024, 10:50 PM ET, BY Thomas H. Kee Jr. – Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer term trading plans for BP

• Buy BP near 29.04 and target a stop loss of 31.59 at 28.96 Details

The technical summary data tells us to buy BP near 29.04 with an upside target of 31.59. This data also tells us to set a stop loss at 28.96 to protect ourselves from excessive losses in case the stock starts moving against the trade. 29.04 is the first level of support below 29.31, and basically any test of support is a buy signal. In this case the support 29.04 would be tested, so a buy signal would be present.

• Short BP just below 31.59, target 29.04, stop loss at 31.68 Details

Technical summary data suggests a short on BP as it approaches 31.59 with a downside target of 29.04. However, we should have a stop loss at 31.68. 31.59 is the first resistance level above 29.31, and basically any test of resistance is a short signal. In this case, if the resistance 31.59 is tested, a short signal is present.

Swing trading plans for BP

• Buy BP slightly above 29.75, target 31.59, stop loss at 29.66 Details

If 29.75 starts to break out higher, the technical summary data tells us to buy BP just above 29.75 with an upside target of 31.59. The data also tells us to set a stop loss at 29.66 in case the stock turns against the trade. 29.75 is the first resistance level above 29.31, and basically any break above resistance is a buy signal. In this case, 29.75, the initial resistance, would break upwards, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short BP slightly near 29.75, target 29.08, stop loss at 29.84. Details

Technical summary data suggests shorting BP if it tests 29.75, with a downside target of 29.08. However, we should have a stop loss at 29.84 in case the stock starts moving against the trade. Basically every resistance test is a short signal. In this case, if the resistance 29.75 is tested, a short signal is present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Day trading plans for BP

• Buy BP slightly above 29.75, target 31.59, stop loss at 29.68 Details

If 29.75 starts to break out higher, the technical summary data tells us to buy BP just above 29.75 with an upside target of 31.59. The data also tells us to set a stop loss at 29.68 in case the stock turns against the trade. 29.75 is the first resistance level above 29.31, and basically any break above resistance is a buy signal. In this case, 29.75, the initial resistance, would break upwards, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short BP slightly near 29.75, target 29.23, stop loss at 29.82. Details

Technical summary data suggests shorting BP if it tests 29.75, with a downside target of 29.23. However, we should have a stop loss at 29.82 in case the stock starts moving against the trade. Basically every resistance test is a short signal. In this case, if the resistance 29.75 is tested, a short signal is present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Check the timestamp of this data. Updated AI generated signals for Bp Plc (BP) available here: B.P.

BP ratings for November 30:

AI generated signals for BP

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Technically, Bp Plc (NYSE: BP) offers opportunities for traders who watch how the stock price fluctuates over time.

Warning:

This is a static report. The following data was valid at the time of publication, but support and resistance levels for BP change over time, so the report should be updated regularly. Real-time updates are provided to subscribers. Unlimited real-time reports.

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Instructions:

The rules that govern the data in this report are the rules of technical analysis. For example, when BP tests support, buy signals emerge and resistance is the target. Conversely, if resistance is tested, it is a sign to control risk or sell, and support would accordingly be the downside target. In any case, the trigger point serves as both an ideal place to enter a position (avoid trading in the middle of a trading channel) and a risk control layer.

Swing Trades, Day Trades and Longer Term Trading Plans:

This data is refined to distinguish trading plans for day trading, swing trading and long-term investment plans also for BP. All of this is offered below the overview table.