By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for August 10, 2010
BP plc (BP) Support & Resistance Levels - 8/10/10
Resistance Levels: $41.57, $42.50, $45.57
Support Levels: $40, $39, $35
Chart - http://www.stockcharts.com/
Support Levels: $40, $39, $35
Chart - http://www.stockcharts.com/
BP Plc (BP) hit a high of $41.59 on Monday but then pulled back. BP will have support located at the 10 day moving average which is currently $39.43. If we see a correction below $38, I think BP stock is a buy. BP should continue the uptrend when the $41.59 high is broken but hit minor resistance located at $42.50. After $42.50, BP doesn't have anything major until $45.57.
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