By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 16, 2010
BP plc (BP) Support & Resistance Levels - 7/16/10
Resistance Levels: $40, $40.61, $45.57
Support Levels: $37.50, $36.20, $35
Chart - http://www.stockcharts.com/
Support Levels: $37.50, $36.20, $35
Chart - http://www.stockcharts.com/
BP plc (BP) closed above the 50 day moving average on Thursday after the company stopped the leaking oil well in the gulf of mexico, for now. BP is testing the pressure but might have to do some more work over the next two days. As for BP stock, it now has resistance at $40 & $40.61. BP will have support located at $37.50 on the downside. If BP fails to close above $37.50 from here on out, look to pick up more stock between $35-$36.20.
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