United

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BP share price: The company has made a spectacular comeback from COVID-19, see the financial and fundamental analysis&nbsp;</a> </li> 
 <li> <span>2</span> <a>The stock has been in an uptrend for more than 2 years.</a> </li> 
 <li> <span>3</span> <a>The current revenue is reported with a growth of 70%.</a> </li> 
</ul> 
<p>The United Kingdom-based company BP Plc (LON: BP) is an integrated oil and gas company that operates through segments like Upstream, Downstream, and Rosneft. The foundation of this firm goes back more than a hundred years ago, in 1909. Today, the company has a market cap of £93B and it is considered a large-cap firm.</p> 
<h2 class="wp-block-heading" id="strong-the-heroic-comeback-of-the-firm-strong"><strong>The Heroic Comeback of the Firm</strong></h2> 
<p>During 2020, BP hit rock bottom, its shares hit a low of £190, and its annual revenue was down more than 62%. Fast forward to the press time, the company has made an impressive recovery following the COVID-19 pandemic, both in terms of its fundamentals and its technical aspects. From a fundamental standpoint, the company has experienced significant revenue growth since 2020. The revenue in 2021 came with a growth of 38.8%, followed by a 2022 growth rate of more than 70%. This growth, however, was only transferable till the pretax income as the company is still net profit negative.</p> 
<p>The growth in the financial sector instilled confidence in bullish investors. As quarterly reports for 2021 started coming in, BP’s share price began to rise. In September of 2021, the bulls managed to claim the support level of £292, starting a bullish trend in BP’s share price. Fast forward to November 2022, and the bulls were able to break a significant resistance level of £503, ultimately bringing the bullish rally to an end in February of this year with an impressive peak of £565.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-bp-share-price-strong"><strong>Technical Analysis and Prediction of the BP Share Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="799" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533.png" alt="BP Share price: Investors Shouldn't Miss This COVID Comeback" class="wp-image-176678" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533-750x375.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-533-1140x569.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=LSE%3ABP."> TradingView </a>(Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>After facing some corrections from the high of £565, the BP share price is back on an uptrend once again. At the press time, the BP share price is trading at the level of £557. The bulls have taken support from the level of £496 and broke the resistance of £537. BP share price is moving towards the resistance level of £566.&nbsp;</p> 
<p>The Relative Strength Index (RSI) is already at its overbrough level of 68. It is a result of the recent surge after the bulls reclaimed the support. The bulls are currently facing a selling pressure, as the RSI suggests. The price prediction for the BP share price will be bearish in the short term. The RSI will cool down before the bulls can make another attempt to break the resistance of £592</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" target="_blank" rel="noreferrer noopener">BP Plc (LON: BP) </a>is an integrated oil and gas company. The firm has made a good comeback from the COVID period with an uptrend. The current share price has broken a major resistance, and it is predicted that it will give some correction in recent times.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support: £537 and £496</p> 
<p>Resistance: £566, and £592</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks comes with a risk of financial loss.</p>

BP Share price: Investors Shouldn’t Miss This COVID Comeback

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