By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for June 8, 2010
BP plc (BP) Support & Resistance Levels - 6/8/10
Resistance Levels: $38.15, $40, $40.96
Support Levels: $36.20, $35
Chart - http://www.stockcharts.com/
Support Levels: $36.20, $35
Chart - http://www.stockcharts.com/
BP plc (BP) will be testing the $36.20 support level today and a close below this level would be very bad. BP would then have support around $35 which must hold or the stock could drop all the way down to $31. I could only see this happening if the dividend is cut however. If you want to risk getting long this stock, wait for BP to close back above It's 10 day moving average located at $40.25 ( but dropping each day ).
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