Beach Energy (BPT) is a $3 billion oil and gas exploration company operating across Australia and New Zealand.

“We remain positive on oil and LNG, and Beach Energy (BPT) has rallied well in the past few weeks on the back of improving oil prices,” Michael said.

“Despite the recent rally, the longer-term chart shows that there’s still much more upside potential from here.

“BPT had been trading sideways for the past few years in a range that was starting to tighten up.

“The past few days has seen it start to break out of this range (see circled area in the chart below).

“This means we are potentially seeing the start of a new breakout.

“If so, then we expect a multi-month move up towards the old high near $2.80,” Michael said.

Beach Energy (BPT)

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