Taking this into account, Scotiabank downgraded its BP plc ADR [BP] rating to a Sector perform from a a Sector outperform in a research note published recently. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in early October from “an Outperform” to “a Neutral”. Redburn Atlantic also remained covering BP and has decreased its forecast on September 24, 2024 with a “Neutral” recommendation from previously “Buy” rating. HSBC Securities revised its rating on August 08, 2024. It rated BP as “a Hold” which previously was an “a Buy”.
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Price Performance Review of BP
On Tuesday, BP plc ADR [NYSE:BP] saw its stock fall -2.63% to $28.16. Over the last five days, the stock has lost -6.01%. BP plc ADR shares have fallen nearly -20.45% since the year began. Nevertheless, the stocks have fallen -19.73% over the past one year. While a 52-week high of $40.40 was reached on 04/12/24, a 52-week low of $28.74 was recorded on 11/12/24. SMA at 50 days reached $31.34, while 200 days put it at $35.04.
Levels Of Support And Resistance For BP Stock
The 24-hour chart illustrates a support level at 27.93, which if violated will result in even more drops to 27.70. On the upside, there is a resistance level at 28.49. A further resistance level may holdings at 28.81. The Relative Strength Index (RSI) on the 14-day chart is 29.26, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.44%. Stochastics %K at 4.79% indicates the stock is a buying.
How much short interest is there in BP plc ADR?
A steep rise in short interest was recorded in BP plc ADR stocks on 2024-10-31, dropping by -2.47 million shares to a total of 8.04 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 10.51 million shares. There was a decline of -30.74%, which implies that there is a negative sentiment for the stock.
