By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for September 20, 2010
BP plc (BP) Support & Resistance Levels - 9/20/10
BP plc (BP) Support & Resistance Levels - 9/20/10
Resistance Levels: $38.50, $40, $41.59
Support Levels: $37.60, $36, $35, $32.50
Chart - http://www.stockcharts.com/
Support Levels: $37.60, $36, $35, $32.50
Chart - http://www.stockcharts.com/
BP plc (BP) continues to fight the $38.50 resistance level and is trading up there today. BP does not have resistance until $40 after $38.50 is taken out. When BP closes back above $40, I expect a larger break out back to $43-$44 and possibly higher. BP remains a buy below $35 per share for the long term. BP will continue to trade in a narrow range between $37-$38.60 until a break out occurs one way or the other.
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