- Today's gains mark the first time in a month BP share price has registered gains for three successive sessions, underlining bullish control.
BP share price extended its upside on Wednesday as a blend of forecast-beating earnings and its reinvigorated focus on fossil fuel strikes the right chord among investors. The company announced its largest oil deposit discovery in 25 years earlier this week, coming at a time when it is realigning its investments towards oil and gas following a failed sojourn in green energy. That marks the first time in a month that BP share price has recorded gains for three successive sessions, underlining the strong bullish sentiment. Furthermore, the momentum sent the stock to 18-week highs of 428p.
BP(LON: BP.) reported that it had struck a multibillion barrels find off in Bumerangue field off the Brazilian coast, bringing a strong bullish sentiment to its growth outlook. That news was sweetened by the company’s quarterly earnings released on Tuesday. BP reported Q2 2025 net profit of $2.35 billion, beating analysts’ forecast figure of $1.8 billion. In addition, the company announced a $750 million share buyback program and 8.22 cents dividend, reaffirming its positive growth prospects.
The strategic reset is evidently paying off and the hydrocarbon find adds support to the company’s outlook amid the strategic discipline instilled by the new leadership. The company is currently implementing a steep cost-cutting program estimated to save up to $4 billion per annum through 2027, and that has also proven to be a strong attraction for investors.
BP Share Price Prediction
The momentum on BP share price calls for further upside above 422.45p. With the buyers in control, the stock will likely meet primary resistance at 428.85p. However, an extended bullishness will clear that barrier and potentially test 431.85p.
Conversely, action below 422.45p will signal the onset of a downward momentum. With that, BP share price will likely find its first support at 417.40p. Breaking below that level will invalidate the upside narrative. Also, the resulting momentum could strengthen the decline and potentially test 412.05p in extension.
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