By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 21, 2010
BP plc (BP) Support & Resistance Levels - 7/21/10
Resistance Levels: $38.53, $40, $40.61
Support Levels: $35, $32.50
Chart - http://www.stockcharts.com/
Support Levels: $35, $32.50
Chart - http://www.stockcharts.com/
BP plc (BP) closed back below all three moving averages on Tuesday but is trading at $36.64 in pre market. Bp stock will now have resistance located at $36.69 today which is the 50 day moving average. On the downside, BP seems to now have support located around $35. I don't see BP dropping back to $32 or lower as long as this well stays capped. If BP causes the oil well to gush again, I'd look to buy between $30-$32.
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