By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for June 14, 2010
BP plc (BP) Support & Resistance Levels - 6/14/10
Resistance Levels: $35, $36.20, $38.15, $40, $40.96
Support Levels: $31, $29
Chart - http://www.stockcharts.com/
Support Levels: $31, $29
Chart - http://www.stockcharts.com/
BP plc (BP) rebounded for the second straight day on Friday but failed to close back above $35. BP has three major resistance hurdles this week which are the following: $35, $36, $36.20. If BP stock can close back above $36.20, I think it can run back to $38-$39.
On the downside, the $33.25 low from Friday must hold or we could see a drop back to the $31 level. Expect the volatility to continue this week.
On the downside, the $33.25 low from Friday must hold or we could see a drop back to the $31 level. Expect the volatility to continue this week.
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