CFD Trading – Sell BP Plc (BP.NYS) @ $28.50. Stop @ $29.95 and Target @ $25.12

BP PLC Stock Code BP.NYS


Price broke and closed below the cloud in the previous trading session, changing the chart outlook to bearish. Conversion and Base lines had a bearish crossover, hinting at a bearish price trend. Lagging Span is below price of 26 days ago but is above the cloud. MACD is bullish with both lines above the zero line. However, MACD had given a bearish divergence warning earlier, hinting at a possible price high. We think price is likely to move lower to the next price support at $25.12 in the next 2-3 weeks.


$28.50                Sell

$25.12                Price Target

$29.95                Risk Management Stop

3 weeks              Trade Duration

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