All the oil stocks got hit hard yesterday and BPT in particular was oversold.
From a fundamental view point it should be at least $1.80 and even from the charts it looks like it should be retesting $1.80
The problem is that too many people trade the charts and ignore fundamentals so as soon as the charts suggest the share price will drop the short's start hitting it, stop losses kick in and some shareholders just panic and sell which is exactly what the shorts want you to do.
I bought some more yesterday and will buy more if it continues to be sold off.
Ann: Beach Energy FY20 Full Year Results, page-27
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Last
$1.42 |
Change
-0.053(3.57%) |
Mkt cap ! $3.228B | |||
| Open | High | Low | Value | Volume |
| $1.44 | $1.44 | $1.41 | $4.831M | 3.404M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 55 | 217959 | $1.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.42 | 153947 | 46 |
View Market Depth
| Last trade - 13.32pm 05/08/2024 (20 minute delay) ? |
| BPT (ASX) Chart |