Technical outlook – Examining the technical structure Beach Energy Limited (BPT), we have noticed that there are many positive takeaways from the technical pattern. Based on the leading indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) pattern, we believe this share is likely to experience around of bullish momentum which should ignite a move towards the recent highs of $2.90. Reassess from there.
Company Overview – Beach Energy Limited (BPT) is an oil and gas exploration and production company based in Adelaide, Australia. It has operated, and non-operated, onshore and offshore, oil and gas production from five producing basins across Australia and New Zealand and is a key supplier to the Australian east coast gas market. Currently, the flagship operations are located in Cooper/Eromanga Basins and New Zealand. Former Names: Beach Petroleum NL (29/1/2003), Beach Petroleum Limited (BPT) on 15/12/2009.