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Home / Trade Alert / Buy – BP (BP/)

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Buy – BP (BP/) - 25 July 2017

Trade Parameters

  • Opening Price: 445p
  • Stop Loss: 435p (10p/2.2% below)
  • Profit Limit: 470p (25p/5.6% above)
  • Reward vs Risk: 2.5x
  • CFD Margin: 5%

Observations – For

  • Bounce: long-term rising support + recent lows
  • Stochastics recovering from oversold
  • Momentum back to positive
  • MACD rising lows

Observations – Against

  • Moving averages may offer resistance
  • No Point & Figure chart breakout
  • Daily chart offers mixed signals
  • RSI still neutral

Analyst Comments

Support at 440p. Positive noise from OPEC/NOPEC meeting, with Saudi Arabia and Russia aiming for better compliance, and maybe even export cuts, to solve the global supply glut and buoy prices. Oil prices have rallied as a result. Weaker USD makes oil cheaper for non-USD buyers. Supportive dividend yield of 6-7%.

Consensus is majority bullish with potential for upgrades by Neutrals. Note >80% of broker targets suggesting upside from current levels. Consensus target of 499p is well beyond our trade objective and close to 2017 highs.

Next Event: Q2 Results, 1 Aug; Ex-div, 10 Aug

Latest Broker 12-Month Consensus:  43% Buy, 43% Hold, 29% Sell (full breakdown on request)

Source: DowJones Newswires, Reuters News, Bloomberg  or Company Press releases

Broker Ratings & 12-Month Target Prices (Bloomberg)

3-month (4-hourly); MACD, Stochastics, Relative Strength Index, Momentum & Trend Strength

Share 1wk 1m 3m 6m 1yr 2yr 3yr 4yr 5yr
Perf % -0.6 -2.4 -0.9 -9.1 -1.5 12.8 -11.6 -6.1 4.1
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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.

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