By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for August 31, 2010
BP plc (BP) Support & Resistance Levels - 8/31/10
BP plc (BP) stock is dropping below $35 again today as the stock market is weaker. BP remains a buy below $35 for the long term. BP has support located at $34.16 followed by $32.50. If BP closes below $32.50 at any time, I'd look to add to my long position around $30. I wouldn't be buying BP over $35 at all. As you can see, the 10 day moving average is getting ready to break down through the 50 day moving average, a bearish signal as far as technicals go. Bearish technicals set up great buying opportunites.
For more Technical Analysis - Go Here
Today's Biggest Stock Market Gainers - Top 2010 Stock Gainers - Top 2010 Penny Stocks - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Stocks for 2010
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/
