Short term view - BP PLC : The Stochastics are oversold.
The trend is still bullish, the invalidation level is below 479.00 p. The target is at 535.90 p.Arguments :
- The Stochastics are oversold.
- The moving average is supporting prices.
- The gap was closed, the bullish trend may be weakened.
BP is an integrated oil and gas group based in the United Kingdom. Co. is engaged in the exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and the manufacture and marketing of petrochemicals. Co. operates globally, with business activities in Europe, the U.S., Canada, Russia, South America, Australasia, Asia and parts of Africa. Co. operates in two business segments: Exploration and Production - including oil and natural gas exploration and development and production; and Refining and Marketing- activities include the refining, manufacturing, supply and trading, marketing and transportation of crude oil, petroleum and petrochemicals.
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