By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 6, 2010
BP plc (BP) Support & Resistance Levels - 7/6/10
Resistance Levels: $32.53, $34.46, $36.20
Support Levels: $30.40
Chart - http://www.stockcharts.com/
Support Levels: $30.40
Chart - http://www.stockcharts.com/
BP plc (BP) closed above the 10 day moving average during the past two trading days and is surging today. BP stock now has resistance located at $32.53. I plan to buy BP for a trade when the stock breaks above $32.53. I expect BP to retest the 50 day moving average within the next few months but the 50 day will be much lower. If you are looking at taking a long term position in BP, wait for a few closes above the 50 day moving average.
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