Sunday, October 23, 2011
Buy BP PLC (BP) Stock?
BP Plc. (BP) stock is seeing a strong rally in a massive downtrend right now. BP PLC (BP) will hit heavy resistance near the 200 day moving average located at $43.43. If BP closes above the 200 day moving average and holds, look for the stock to advance higher. A failure of the 200 day moving average at any time would cause me to short the stock. Long term, I'd like to buy BP stock below $37 per share.
