Use this graph to draw trend lines for BP plc. You can use it to identify possible trend reversals for BP plc as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual BP plc price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.
BP plc Best Fit Change Line
The following chart estimates an ordinary least squares regression model for BP plc applied against its price change over selected period. The best fit line has a slop of 0.10 %
which suggests that BP plc will keep on generating value for investors. It has 44 observation points and regression sum of squers of 16.26 which is sum of squared deviations of the predicted BP plc price change against its avarage change.
BP plc has a best fit line with a correlation coefficient of 0.66. and coefficient of determination of 0.44. Note, that the company has price-to-book (p/b) ratio of 1.17.