By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for June 9, 2010
BP plc (BP) Support & Resistance Levels - 6/9/10
Resistance Levels: $36.20, $38.15, $40, $40.96
Support Levels: $31
Chart - http://www.stockcharts.com/
Support Levels: $31
Chart - http://www.stockcharts.com/
BP plc (BP) is trading around $34 this morning after the stock closed below $35 on Tuesday. The next major support level for BP is now located all the way down at $31. Questions about whether or not the dividend will be paid are circulating rapidly but at this point, I think most of the dividend will be safe. I could see BP cutting it for political purposes but can't see them canceling it right now. BP has resistance on the upside located at $35 as well as $36.20, but then nothing until $38.
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