By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for June 7, 2010
BP plc (BP) Support & Resistance Levels - 6/7/10
Resistance Levels: $39.41, $40, $40.96
Support Levels: $37, $36.20, $35
Chart - http://www.stockcharts.com/
Support Levels: $37, $36.20, $35
Chart - http://www.stockcharts.com/
BP plc (BP) topped out at $39.41 last week which is now key resistance for this stock. Bp dropped on Friday but is still in a new uptrend that started on last Tuesday. BP stock must hold $36.20 on the downside or a drop to $35 could be in store. If you are looking to get long BP, I'd wait for a few closes above the 10 day moving average which would be a sign of a trend change. At this point, I would not touch BP below $36.20 but I would be a buyer of a few closes above the 10 day or a close above $39.41.
For more Technical Analysis - Go Here
Today's Biggest Stock Market Gainers - Top 2010 Stock Gainers - Top 2010 Penny Stocks - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Stocks for 2010
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/
