It will take a series of very very bullish news for BP stock to hold after a run from 40 to 50.OPEC cut does not help the price, because the whole global economy is at stand still.
I agree this stocks not going anywhere but down in the next few weeks. In a week or so I will buy when it hits $42
Why is this stock undervalued compared with ExxonMobil? P/E of 5 (8 for XOM), dividend is 7% (2% for XOM). Would seem like a better buy. It has also dropped much further since the credit crunch than XOM has.