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Sean93

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Sean93

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Wednesday, 06/30/2010 3:21:12 PM

Wednesday, June 30, 2010 3:21:12 PM

Post# of 5205
Technical Analysis On BP! Read PLEASE!

Ok so the stock has had a pretty decent downtrend the past couple of days. It's had some short term corrections here and there. But there is something you guys should know. An exhaustion gap occured 3 days ago, which means the downtrend could be finished. On top of that, the stock TODAY just broke its exhaustion gap, something it's never supposed to do. Bp has formed an Island Reversal and has broken its resistance from the exhaustion gap. On top of that, all the bearish news that came out today had no bearish effect on BP. It is clearly breaking out and is oversold.
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