By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 23, 2010
BP plc (BP) Support & Resistance Levels - 7/23/10
Resistance Levels: $38.53, $40, $40.61
Support Levels: $35, $34.58, $32.50
Chart - http://www.stockcharts.com/
Support Levels: $35, $34.58, $32.50
Chart - http://www.stockcharts.com/
BP plc (BP) stock closed above the 10 day moving average on Thursday and is now above both the 10 & 50 day moving averages. If BP closes above the 50 day and the oil well continues to be capped, I think the stock can rally back to $40. On the downside, Bp has support located at $34.58. If BP breaks $34.58, I think the stock can go down to retest $30-$32.
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