By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 19, 2010
BP plc (BP) Support & Resistance Levels - 7/19/10
Resistance Levels: $38.54, $40, $40.61
Support Levels: $36.20, $35, $32.50
Chart - http://www.stockcharts.com/
Support Levels: $36.20, $35, $32.50
Chart - http://www.stockcharts.com/
BP plc (BP) closed back below the 50 day moving average on Friday. The stock is now going to test the 10 day moving average on news that the oil well is leaking again. BP stock has support located at $35 but then nothing until about $32.50. If BP can rally up and break Friday's high of $38.54 sometime down the road, I think it can test $40 again. If BP stock gets close to $30 again, I'd be a buyer.
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