BP, the decline loses steam
BP: in week 6 of a sell signal, an unconvincing bounce
BP, the decline loses steam
In Summary
BP is in week 6 of a sell signal, and the week just closed up 0.7% with buying volume back at 81%. The bounce doesn't fully convince, though: the MACD histogram fell to -1.18 and CMF worsened to -0.315, the most negative reading of the past 4 weeks. Price sits between the first resistance, in the 38.4 area, and the first support, in the 37.3 area.
IQS Phase
74
in tension
Signal Strength
21
decline losing steam
Sizing
MINIMUM
Ranking
#51 / 137
US stocks
Trade P&L %
+10.68%
from signal to today
restricted Platinum content