By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 12, 2010
BP plc (BP) Support & Resistance Levels - 7/12/10
BP plc (BP) closed near the high of day for the 4th straight trading day on Friday and is popping above $35 today. BP continues to hold previous resistance located at $32.53 which is very bullish. The next major resistance level is now located at $36.20. If BP can close above $36.20, I think the stock could make a run toward $40. If BP does make that run toward $40, I would be selling the stock and waiting for a pullback. The 10 day moving average is now trending up for the first time since the crash began.
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