BP plc BP Stock Analysis - 9/3/10

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for September 3, 2010

BP plc (BP) Support & Resistance Levels - 9/3/10

Resistance Levels: $38.50, $40

Support Levels: $35, $32.50

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

BP plc (BP) broke above $37 today as the stock market remains strong. The next major resistance level for BP is located at $38.50. If BP breaks above $38.50, I think it could test $40. The 10 & 50 day moving averages are now trending higher which is very bullish. BP stock will have support down at the $35 level. BP remains a strong buy below $35.

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