Member Info for hkt123

Crude increase > bp

Disappointing for sure.

Overall, seem to have done better than what analysts predicted.

If this doesn't rise now, I'd be shocked.

Think most analysts estimated around 120m loss in losses for Q3 so hopefully this has been factored into share price as it was "common" knowledge.

Share price did increase following Q2 results despite the massive losses.

As a loss is expected this Q....i think more emphasis will be put on Looneys strategy and reassuring investers (maybe maintaining divi etc).

Mixed feelings atm. Could be a tough Q3. Hoping for the best though.

everything seems to be down - esp in America!!

could be the surge of Covid cases or the general election but either way - not looking good.

very surprised BP hasn't dropped below 200!!!

Jack,

Totally agree. I don't see them cutting the divi and I hope they don't. Hopefully, a potential cut has been factored into the current SP and we see a uplift tomorrow if it's maintained.

For those looking for an entry point sub 200...good luck, I think even at this range you getting a good entry point. Not often will we see BP at 200.

I agree.

However, with analyst's warning of a potential divi cut, would the current SP have already factored this in and hence the recent drop?

Lodan1 has responded to this in my post at 14:20 - sums it up nicely and in line with NewKOTB.

Can't see a further divi cut. Q3 is all about reassuring investors that BP is on the right path with light at the end of the tunnel. A divi cut would do the complete opposite....

https://www.dailymail.co.uk/money/markets/article-8877363/Warning-BP-dividend-cut-oil-price-struggles.html

Guess the current SP has factored in a a further divi cut....doesn't make sense to see another one as BP should be aware that maintaining current divi would be crucial for all the big players invested with them (possibly bring in a few more with current yields).

Let's see what happens come Tuesday

https://www.google.com/amp/s/www.independent.co.uk/news/health/coronavirus-vaccine-nhs-staff-england-oxford-b1295880.html%3famp

Let's hope the vaccine does get rolled out before Christmas. This will deffo be welcoming news.

Anyone see this improving BP Sp??
Oil dropped a little on Friday so did BP Adr.....

What's a muz....

Insightful tacet! I don't think I'd have the eyes or energy to he analysing these candles tbh but it is very interesting!!

Iv never done FX trading and probably won't but wish you the best.

I guess I have to sit back for now and wait for BP to get back to 290/300!!!

Enjoy the weekend!!!

It would be for the lucky ones who purchased at these prices. Unfortunately I will need it to hit around 290 before I pull out - not sure when that will hit but even then, I still think around 290/300 is a good price for BP in the long term.

Finding this candle meaning rather interesting - iv never really paid much attention to it tbh! As you stated in your previous post though, this sort of knowledge shouldn't be used as a sole reason to purchase shares but rather as a supplemental to your decision making.

Tacet - so I decided to read up on candlesticks and do some research on what they mean etc.

We finished on what looks like an inverted hammer. Would this imply the buying pressure was greater than the selling pressure so eventually, the buyers will be in control?

"It indicates a buying pressure, followed by a selling pressure that was not strong enough to drive the market price down. The inverse hammer suggests that buyers will soon have control of the market."

BTW before anyone starts throwing a fit, this post is only intended for opinions on candlesticks - not saying we going to see 300p on Monday but just good to get opinions from others and tacet seems to be an expert in candlesticks!!!!

Tacet, hope this black crow thing gets killed off on Monday. Don't see BP having a red day a day before results unless someone has some inside knowledge of something **** going on behind the scenes. Atleast we have had two green candles, the last time we had that was back in the 262p days.

BTW just to clarify, I personally think its an Upward trend from here. I could be wrong but just my opinion.

Tacet,

apologies on this but simply due to my lack of knowledge - what on earth does that mean?

I have heard about the black crow pattern a number of times but iv never actually understood it (not a seasoned traded) but
I just used my logic to purchase these shares - they seemed too cheap at 270p (and then my common sense went to Sh*t when it dropped sub 200). I haven't averaged down because I cant afford to right now in all honesty, again my common sense told me 200p was waaaay to cheap for such a company thats still paying dividends (and i am certain will continue to pay it come Q3 announcements).

So if the candle has turned green and the black crow is dead, does that mean we wont be seeing sub 200 again....or sub 210 once its broken through??

As a BP holder myself, I honestly hope this is the bounce we are all expecting (looks likely with results upcoming).

However, just wanted to know what everyone else's views are?

I personally was hoping it did not drop to the levels some people were suggesting on here - 160/180 etc....

Finishing green for a change....does it turn here....

if dividends remains as is, that would be yield over 13% - which major institution will not want to snap that up?

Surely Q3 will only help current SP?

Yes, there may be a potential for a further drop but the yield will increase and eventually the SP will recover (I'm sure everyone can agree on that point?).

Just complete bonkers right now. If i had a big pile of cash (unfortunately, I don't) id be investing most of it here.