BP stock price forecast: GBX 570.50 support as BP trades flat

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BP slips 0.02% today to GBX572.29

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Jainam Mehta

23.04.2026

BP stock price forecast: GBX 570.50 support as BP trades flat — BP slips 0.02% today to GBX572.29

BP PLC (BP) is trading at GBX 572.29, drifting down 0.02% for the day. The price is just below its key short-term moving average but remains well above medium- and long-term averages.

BP price prediction

24H -0.43%

GBX 541.19

48H -0.53%

GBX 540.6

7D 0.42%

GBX 545.8

1M -9.7%

GBX 490.8

3M -0.51%

GBX 540.72

6M 11.3%

GBX 604.94

12M 42.2%

GBX 772.88

Detailed

Current price: GBX 543.5 -2.00 0.37%

Closed 06/04

Daily range 536.40

544.60

Weekly range 490.00

548.21

Highlights

BP completed a share buyback on April 23, ahead of its scheduled Q1 2026 earnings release on April 28.
Consensus expects Q1 earnings of $0.85 per ADS on $57.6 billion revenue, following previous quarters' earnings beats and margin gains.
Shares consolidate in a narrow GBX 570.90–573.30 range with an ongoing bullish structure, though short-term resistance and overbought conditions signal cautious upside.

Earnings beats and buybacks buoy outlook despite selling pressure

BP completed a share buyback programme on April 23. The company has scheduled publication of its Q1 2026 results for April 28, with current consensus estimating quarterly earnings of 85 cents per ADS on revenue of $57.6 billion. Recent quarters have seen earnings beats and improved refining margins, though price action has remained under broader selling pressure.

Neutral oscillators and low ADX limit upside under near-term resistance

The GBX 572.29 level sits just below the MA-20 (GBX 575.31), acting as near-term resistance, while the MA-50 (GBX 528.56) and MA-200 (GBX 456.43) remain comfortably beneath the current price. The Ichimoku Kijun is at GBX 570.50 and forms immediate support. MACD on the daily timeframe points to strong buy momentum, but the ADX reading is low, suggesting subdued trend strength. RSI, Stoch RSI, and CCI are neutral, with BBP indicating short-term buyer dominance, although overbought signals are present. Intraday trading has been tightly contained within the GBX 570.60–578.70 range, reflecting sideways action after an initial minor gap up.

High upside probability as consolidation persists unless support fails

For the next five sessions, price is expected to fluctuate within a typical volatility band of GBX 570.90 to GBX 573.30. The probability of a price increase is very high (over 80%), while a decline appears unlikely. The base case is a period of sideways consolidation, but a bullish scenario would require a sustained breakout above the MA-20 and the upper end of the range. A bearish development would only unfold if support at the Ichimoku Kijun and recent lows is breached, potentially triggering further consolidation.

Anton Kharitonov, expert at Traders Union, sees BP hovering just below key resistance, with technical signals mixed and trend strength weak. He notes strong MACD buy momentum but highlights overbought risks and a lack of directional conviction. Sideways action dominates, with significant movement only likely if key support or the MA-20 is decisively breached. "Base case is a range-bound market—until GBX 575.31 is cleared, I remain cautious and on the sidelines."

Previously it was reported that BP maintained a broadly bullish outlook despite episodes of short-term volatility and mixed technical signals. The latest price consolidation above key medium-term support, combined with buy-side momentum into earnings, warrants close attention to any sustained move above the MA-20 as a potential trigger for renewed upside.

Source of Data: BP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.