BP shares are likley to pursue their bearish movement.
The drop in oil prices is weighing heavily on the company stock. Analysts have downgraded their EPS estimates, those last ones are expected to decrease from USD 1.23 on 2013 to USD 0.65 in 2014.
Technically, the security is in a negative configuration on all time scales. The stock was evolving in the GBp 414/448 trading range, and has recently stepped out of it to go down. Moving averages negatively oriented should support the pursuit of this bearish movement towards the GBp 353 daily support.
It seems opportune to open a short position on the stock to benefit from this bearish scenario and target GBp 352.8. Investors should place a stop loss order over the EUR 370 to avoid important losses.