By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for June 22, 2010
BP plc (BP) Support & Resistance Levels - 6/22/10
Resistance Levels: $31.18, $33, $34.46, $36.20
Support Levels: $29, $25
Chart - http://www.stockcharts.com/
Support Levels: $29, $25
Chart - http://www.stockcharts.com/
BP plc (BP) stock is trading below $30 this morning at $29.80. BP has support located at $29 but then if we see a close below that level, things could get very ugly. I would assume BP would have support located around $25.
BP still hasn't closed above the 10 day moving average in about three weeks which is very bearish. The stock fails at this level each time. If you have been eyeing BP for a trade over the past two months, wait for the stock to close two straight days above the 10 day and I think we'd likely see a bounce.
BP still hasn't closed above the 10 day moving average in about three weeks which is very bearish. The stock fails at this level each time. If you have been eyeing BP for a trade over the past two months, wait for the stock to close two straight days above the 10 day and I think we'd likely see a bounce.
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