Annual forecast for BP. Plc (2021)

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BP. stock (LSE:BP.) is essentially bullish, albeit moving upwards slowly and steadily. The market has been caught in the current bullish trend since February 2021, following a massive sell-off. The uptrend has been in place since then.

Price has managed to remain above the EMA 21, and the William’s % Range period 20 is not below the level 50, though currently pointing downwards. Things are expected to change soon, as price stays farther above the EMA 21 and The William’s % Range period 20 would have gone into the overbought region, or moved near it.

The outlook on BP. is bullish for this year, since the current bullish effort would be sustained. Price will endeavor to reach the distribution territories at 340.00, 360.00 and 380.00 by the end of this year.

 

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