This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
BP flash alert p1.
**Shares -30% from April 2015 highs **
- Q4 2015 results saw profits down 91%
- The oil price has reversed its northerly course again
- Shares trading around 5% away from Sept 2015/Jan 2016 lows 320p, and…
- …14% from Gulf of Mexico disaster (Jul 2010) lows of 295p
- Could Shell results beat expectations, adding buoyancy to BP shares?
- Broker 12-month consensus: 38% buy, 53% hold, 9% sell (full breakdown on request; Bloomberg)
- CFDs tradeable with just a 5% margin
Technical Observations – For
- Shares approaching rising support from Jul 2010 lows
- 3-month sideways trading range
- 2 Feb gap to be filled?
Technical Observations – Against
- Technicals peaked at bullish extremes
- Oil price in decline
- More bad results to come from oil major peers?
Broker Price Targets;
Most Bullish 600p, Consensus 392p, Most Bearish 292p
BP (BP.) is an oil and petrochemicals company. The Company explores for and produces oil and natural gas, refines, markets, and supplies petroleum products, generates solar energy, and manufactures and markets chemicals. (UK 100 )*
*Source: Bloomberg.com
« Back to Category
This research is produced by Accendo Markets Limited.
Research produced and disseminated by Accendo Markets is classified as non-independent research,
and is therefore a marketing communication. This investment research has not been prepared in accordance
with legal requirements designed to promote its independence and it is not subject to the prohibition on
dealing ahead of the dissemination of investment research. This research does not constitute a personal
recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published,
and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up,
and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.
Prepared by Michael van Dulken, Head of Research