Bp Share Discussion Threads

[belzoni] 22/1/2021 19:56

You're all talking very short term movements, it's not how real money is made.I remember trading the hell out of stocks in the financial crisis 2009, I did ok but my god, if only I had just bought and held!!! (Warren Buffet system!)You can make money trading but it's a penny compared to a pound if you simply just invest and wait. Then there's the dividend return, buying now is about a 6% return in a stock that's safe as it gets? I do understand though, I don't know how many times I have said to myself I'm not selling out now, I'm keeping long term. But then think I can predict the market and screw it up yet again. Yes I get more trades right these days but nothing beats just being patient and holding.

[jezzoo] 22/1/2021 19:33

Thanks to all, I hit my stop loss today so Monday I'll be waiting for a high probability of getting back in in the 270'sThanks again for taking the trouble

[kasamavic] 22/1/2021 18:48

And you've paid over 15 days of funding costs to run your position.Looks like the advice you give out doesn't work for you.I hope newbies like the captain doesn't get stuck following you.

[bracke] 22/1/2021 18:47

I should probably say that I have no position in BP.

[kasamavic] 22/1/2021 18:45

Nice try,I haven't give any targets as you have or stated if I'm long or short to show any bias.But so you do know I'm in from much lower down with actual shares rather than SB or CFD's

[bracke] 22/1/2021 18:18

Jezzoo

If you look at the chart at 94201 you will see the share price was in an ascending channel. It broke out in mid January to 310 which had been a strong resistance zone previously (April to August 2020), was unable to break above 310 and was sent back into the channel. It has dropped to the 38.2 fib which is also a previous strong support zone (look at the support this zone provided April to August 2020) Yes 310 was resistance 285 was support.

Now you understand those two levels it becomes interesting. To break below the 23.6 fib this morning it spiked down to the 38.2 fib but could not break through. It's decision time

1 Move up to fill the gap created this morning and attempt another breakout.

2 Try again to break through the 38.2 fib and go for the 272.5 gap fill.

I suspect it will make another attempt try to break through the 38.2 fib. With a fair probability of a 272.5 gap fill or close. BUT remember it's only a probability and we always use stops don't we!

[irish luck] 22/1/2021 17:48

Kasa is slightly biased for the 400 because he`s long from up there.
DYOR. lol

[kasamavic] 22/1/2021 17:16

Irish is slightly biased for the 272 because he's short from below here.DYOR.

[irish luck] 22/1/2021 16:47

Jez,

The share price is in an up channel atm, bottom around the 272 gap and top around the 310 mark.
No body knows which way it will go, but my opinion is it will reach 272 first and complete the wave in the channel, maybe not in one day for sure.
That's only my opinion.
I`m sure there are many on here that think 400 is possible next week !

[jezzoo] 22/1/2021 16:35

As someone who hasn't studied this voodoo much, are you saying it's more likely to go to 272 or 310 ?

[bracke] 22/1/2021 16:10

Irish

The share price supported at the 38.2 fib. It has to decide whether to fill the gap up at 23.6 fib or try the 38.2 again. Currently if it visits the lower channel line it would just about reach the 61.8 fib.

[irish luck] 22/1/2021 15:29

Bracke

Thank you for posting the chart.
It was interest to see the rise after it hit bottom, the green candles are much more stronger right up to 310, then we see very little in the way of green strength.
I think it would have to break out of the up channel to achieve the 0.615 fib, 0.5 seems very doable.
Had a very good day today.

PS that bottom fib lines up perfectly for a double bottom, lol .....shhhhh not to loud, dont want to frighten any bulls.

[imastu pidgitaswell] 22/1/2021 14:54

:-)

Just passing through - although might be back if we do see the lower gap.

[kasamavic] 22/1/2021 14:50

Aren't they just!!There used to be a guy on an old FTSE thread called "mind the gap 365" who always went for the gaps.Needless to say it didn't work out for him.

[bracke] 22/1/2021 14:49

Good day imastu

There is some good trading gaps but it's not as simple as a gap is always filled. If you care to read up about and observe them you may find them of use.

As is always with trading it is necessary to observe the 'rules' whether trading gaps or other.

Mind the aghhhhhh!!

[imastu pidgitaswell] 22/1/2021 14:34

Did somebody mention gaps? Suddenly everyone's an expert...

Gap above, gap below' Loads of gaps.

Mind the gap.

[bracke] 22/1/2021 14:08

Good day Irish

Click link for chart

You will see the share price is currently held at a Fib (blue horizontal line). If it can break below this line you are in with a fair chance of closing the 272.5 gap or at least close to.

[irish luck] 22/1/2021 12:52

Afternoon Jim

No cartoons today !

[ohojim] 22/1/2021 12:14

Noooooooooo

[irish luck] 22/1/2021 12:06

Captain

Looks like they have filled a gap left from the 15th january, cant see any more below

Bracke is probably better qualified to comment on this chart

[irish luck] 22/1/2021 11:34

Captain,
No never traded Jet2, after lunch will take a look.
Good company, but with no customers and big overheads has to be a high risk play.
Hope they do pull through.

PS vivid memory's of landing at Leeds Bradford on a windy day !! lol, not funny at the time.

[captain stock] 22/1/2021 11:28

Love it, I'm getting down ticked and I'm long BP.

[captain stock] 22/1/2021 11:24

Irish;

Have you been trading Jet2 at all? If so, where would you say the gap is on the chart? Almost down 10% on the day.