BP's shares are down 5% after reports of slowing share buyback.

Taking a look at BP after its release of quarter-one results. Its stock is currently down over 5% after reporting a slower share buyback compared to the previous quarter. The price has dipped below the 100-day moving average on the daily timeframe, which was also acting as support (509p). But as today’s session is not over yet, further downside is not guaranteed. A break and close below 509p could potentially see the stock slide further towards the support levels sat between 467p- 473p. If the price was to consolidate around its current level, towards the upside, it would face resistance at 518p then at the 20 & 50 moving averages. Or alternatively at 530-531p at present.  Looking at the technical indicators, MACD is negative and RSI is faltering as it reads 40.