By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 7, 2010
BP plc (BP) Support & Resistance Levels - 7/7/10
BP plc (BP) is trading above the $32.53 resistance level today which is very bullish. It now appears as though BP stock has finally bottomed. The next major resistance level for BP is located at $35 as well as $36.20. If BP can close above $36.20, it can run into the high $39's which would be a great area to take profits. On the downside, BP will now have support located around $29 which is the 10 day moving average. If BP falls below this level, I would be avoiding the stock again.
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