logo-loader
viewBP PLC

Dollar-earner BP could rally in 2017, claims technical analyst

The stage could be set for oil giant BP plc (LON:BP.) to rally in the New Year given the strong US dollar and rising oil price, says the King of Charts Zak Mir.
“We may not believe that OPEC can hold everything together, but at least the oil price has stabilised,” Mir says in the TIP TV Proactive Investors Christmas special.
“BP has underperformed its peers and it’s had its issues, but…I’m looking for it to go over £6 over the next year.”
“With an extra [US interest] rate hike on the way allegedly, dollar earners like BP should do that much better as well,” Mir adds.

Quick facts: BP PLC

Price: 469.35 GBX

LSE:BP.
Market: LSE
Market Cap: £95.11 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fertoz continues to plan for the future despite extremely...

Fertoz Ltd (ASX: FTZ) Executive Chairman Patrick Avery joined Steve Darling from Proactive Vancouver on Skype to discuss what has been a very tough weather year for the company. Even with that, Avery says the company has been very busy this year signing a number of distribution...

5 hours, 50 minutes ago

RNS

Transaction in Own Shares

11 hours, 21 minutes ago

Director/PDMR Shareholding

1 day, 12 hours ago

Transaction in Own Shares

2 days, 12 hours ago

Transaction in Own Shares

2 days, 22 hours ago

Transaction in Own Shares

1 week, 2 days ago

Transaction in Own Shares

1 week, 3 days ago

Transaction in Own Shares

1 week, 6 days ago

2 min read