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Sunday, September 12, 2010

BP plc BP Stock Analysis - 9/12/10

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for September 12, 2010

BP plc (BP) Support & Resistance Levels - 9/12/10

Resistance Levels: $40, $41.59

Support Levels: $36, $35, $32.50

Chart - http://www.stockcharts.com/

BP plc (BP) continues to fail around the $38.50 resistance area. If BP closes back above$38.50, I think we will see a rally back to $40. If BP can close above $40, I feel we will test the recent $41.59 high from August. BP has support at $36 and remains a strong long term buy below this level.

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