Just throwing some lines on BP (BP.) and it is clearly trending downwards over 20 years.
I have been checking how various stocks were affected by the 2009 crash.
BP experienced a sharp correction in Oct 2008 and June 2010. However feb 2016 was another low point.
This forms a preety much parallel gently downward sloping channel.
This is indicated as reference for what may happen if we experience another crash.
BP. is holding a key support level, but looks to be exhausted on the RSI (based on precedent), and likely entering a downtrend.
I have been checking how various stocks were affected by the 2009 crash.
BP experienced a sharp correction in Oct 2008 and June 2010. However feb 2016 was another low point.
This forms a preety much parallel gently downward sloping channel.
This is indicated as reference for what may happen if we experience another crash.
BP. is holding a key support level, but looks to be exhausted on the RSI (based on precedent), and likely entering a downtrend.