By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for August 7, 2010
BP plc (BP) Support & Resistance Levels - 8/7/10
BP Plc (BP) stock continues to rally after breaking $40 last week. BP now has support located at $40 followed by $39. Pullbacks below $39 are now a strong buy going forward.
On the upside, BP will have minor resistance located at $42.50 followed by $45.57. In the event that BP rallied back to the 200 day moving average located $49.81, I would be a seller.
On the upside, BP will have minor resistance located at $42.50 followed by $45.57. In the event that BP rallied back to the 200 day moving average located $49.81, I would be a seller.
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