By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for June 21, 2010
BP plc (BP) Support & Resistance Levels - 6/21/10
Resistance Levels: $33, $34.46, $36.20, $38.85
Support Levels: $30, $29.85, $29
Chart - http://www.stockcharts.com/
Support Levels: $30, $29.85, $29
Chart - http://www.stockcharts.com/
BP plc (BP) continues to trade in a tight range but below the 10 day moving average. BP has resistance located at $33 as well as $34.46. We could easily see a break out occur in this stock as soon as BP breaks above $33. I could see BP stock going up to retest the previous major low that was broken which was $36.20. On the downside, if BP would break down through $30 again, I do not believe $29 will hold.
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