Resistance

Billion

Trillion

<ul class="list-ic vertical"><li><span>1</span><a rel="noopener noreferrer nofollow">BP’s share price inched up 0.77% intraday to close at £4.89 on Wednesday.</a></li><li><span>2</span><a rel="noopener noreferrer nofollow">BP Plc., stock price (LSE: BP) is stuck between 50 EMA and 200 EMA and has been volatile on the daily chart. </a></li></ul><p>The BP share price has been volatile and trading in a range of 5% with support at 4.68 and resistance at 4.94. The daily chart shows that the price has stuck between the 50 and 200 EMA thus unable to find a direction to move.&nbsp;</p><p>The BP Company reported a revenue of 3.82 Trillion underperforming the estimates by 8.1% and the earnings came out to be 11.6 Billion which missed the analyst’s expectations by 22.82%. However, the earnings did not lead to any major impact on the price chart.&nbsp;</p><p>BP Plc. (LSE: BP) is an integrated oil and gas company that explores, develops, produces, transports, processes, markets and trades natural gas, liquefied natural gas, power, and natural gas liquids. It also has a segment that operates in Rosneft, a Russian oil company.</p><h2 class="wp-block-heading" id="strong-bp-share-price-might-give-a-breakout-soon-strong"><strong>BP Share Price Might Give A Breakout Soon?</strong></h2><div class="wp-block-image"><figure class="aligncenter"><img src="https://lh4.googleusercontent.com/XETKdFOWbs8vIaDLWJk2q8IbR2e5MQasM7sqbihddvJVVtyPSmc-eQu_ke6imWLaDdlH9lq6sdviQliKagWaDJfE9kkcq4mjYFR3oA_QTcwIgjQz38BzJ88lSsVYrqs4wNfY4y0WnNvTJtosdOHnkpI" alt="BP Share Price, LSE: BP At A Make Or Break Level, Analysts Say?"><figcaption class="wp-element-caption"> Source: BP Plc. 1D. LSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a></figcaption></figure></div><p>The BP share price currently trades at £4.90 and trying to sustain at the higher levels.&nbsp;</p><p>The Analysts are indecisive about the current trend as the market is volatile until it remains below the recent resistance. The breakout of which may trigger a trending move and the price may surge higher.<br><br>Also, the breakdown of the lower support may turn the price bearish in the short term and the price may slide down to the lower levels.<br></p><h3 class="wp-block-heading" id="strong-technical-indicators-showing-a-sideways-trend-at-the-moment-strong"><strong>Technical Indicators Showing A Sideways Trend At The Moment</strong></h3><div class="wp-block-image"><figure class="aligncenter"><img src="https://lh5.googleusercontent.com/4iZIKuAtXPgY0sli56xPXSfCjALnxhswE7Tuw5j7Dkf4BE1sV5TNoVpETX8Vrp9o09h7aMSasjh6DRbOyQOOs8b1vHV05dMfZ6RD4yI1OW9fh5DEAMw8IghNVsyfXvM4jrG1ruhwr9_C4LaiANxB-fI" alt="BP Share Price, LSE: BP At A Make Or Break Level, Analysts Say?"><figcaption class="wp-element-caption"> Source: BP Plc. 1D. LSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a></figcaption></figure></div><p>The daily <a href="https://www.thecoinrepublic.com/2023/06/14/bp-stock-price-rose-over-2-in-its-ytd-price-performance/" rel="noopener noreferrer nofollow">BP share price</a> chart shows that the price is stuck between 50 and 200 EMA and unable to decide a clear trend for now. The overall Technical Opinion rating including RSI and MACD is signaling a 24% sell with the weakest short-term outlook on maintaining the current direction.</p><h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3><p>BP’s share price is trading in a narrow range of 5% between £4.68 and £4.94, with no clear direction. The price is stuck between the 50 and 200 EMA on the daily chart. The company reported lower-than-expected revenue and earnings, but the price did not react much. Analysts are unsure about the trend until the price breaks out of the resistance or breaks down of the support. The breakout may lead to a bullish move, while the breakdown may trigger a bearish slide.</p><h4 class="wp-block-heading"><strong>Technical Levels</strong></h4><ul><li><strong>Support levels:</strong> £4.68 and £4.48.</li><li><strong>Resistance levels:</strong> £4.95 and £5.16.</li></ul><h4 class="wp-block-heading"><strong>Disclaimer</strong></h4><p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

BP Share Price, LSE: BP At A Make Or Break Level, Analysts Say?

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