By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 1, 2010
BP plc (BP) Support & Resistance Levels - 7/1/10
Resistance Levels: $31.18, $32.53, $34.46, $36.20
Support Levels: $26.53, $25
Chart - http://www.stockcharts.com/
Support Levels: $26.53, $25
Chart - http://www.stockcharts.com/
BP plc (BP) stock is ripping back to the 10 day moving average today. BP has only closed above this moving average one time since this crash began. If BP can close multiple days above the 10 day and continue to make higher daily highs, the bottom could be in for the stock. Also, keep an eye on $32.53 which will be major resistance. If BP can close above this previous high, I think we can see a move back to $34-$36. A break below $26.53 at any time would be very bearish!
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