BP: buy signal holds, up 3.2% this week
BP climbs 3.2% as the buy signal that fired two weeks ago holds
BP: buy signal holds, up 3.2% this week
Our view last week
British oil major BP is stepping on the gas: up 4.6% this week, with the price pushing toward its recent highs and still tracing higher lows in the latest sessions. The Energy sector remains a real tailwind, with its reference ETF up double digits over the past month. The weekly structure is bullish across all structural moving averages, even as volume stays a touch quiet: this week's confirmation cements the fresh buy signal.
This week's summary
BP extends its run of higher lows on the daily chart - the third in a row, from the 38 area to the 42 area - while price holds above the weekly cloud and the week just closed gained 3.2%. The buy signal that fired two weeks ago holds: signal strength stays medium and the energy stocks tailwind keeps blowing. BP stock ranks among the 120 open US stock buys, with the trade already up 7.9% since entry. Watch the earnings date, due this very week.
IQS Phase
67
in tension
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#23 / 120
US stocks in progress
Trade P&L %
+7.92%
from signal to date, no stop loss
Rank position
ranks 23rd among the 120 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein positive regime
Performanceweekly -0.12% · monthly +12.76%
BP belongs to the energy sector (reference ETF XLE). The sector is classified in positive regime according to our weekly reading.
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