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Friday, June 11, 2010

BP plc (BP) Stock Analysis - 6/11/10

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for June 11, 2010

BP plc (BP) Support & Resistance Levels - 6/11/10

Resistance Levels: $36.20, $38.15, $40, $40.96

Support Levels: $31, $29

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

BP plc (BP) is gapping above $34 this morning after a huge snap back rally on Thursday. BP will now have resistance located around $35 as well as $36.20. If BP can close above $36.20 next week, I think it can rally back to $40+ but this an area I would be selling the stock. If BP would fall below $29, I would move to the sidelines once again.

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