Tuesday, March 24, 2015

Annual Trading Forecast on BP (2015)

BP stock (NYSE:BP) was generally bearish last year. The market made some commendable bullish attempts since the beginning of this year 2015. In early March 2015, the price dived seriously but this has been recovered. If I am thrown off by a horse, I will mount it again.

Now the price has crossed the EMA 21 to the upside, while the Williams’ % Range period 20 is also sloping upwards, going near the overbought region. The overbought region will soon be attained and by then, there would have been a stronger confirmation of a bullish outlook. The outlook this year is generally upbeat and the price may eventually reach the resistance levels at 44.00 and 46.00.

This forecast is ended by the quote below:

“Am happy yet calm when positions go my way. I accept winners and winning streaks as part of the deal as much as losing is.” – Mike Melissinos

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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