By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for July 28, 2010
BP plc (BP) Support & Resistance Levels - 7/28/10
Resistance Levels: $40, $40.61, $45.57
Support Levels: $35, $32.00
Chart - http://www.stockcharts.com/
Support Levels: $35, $32.00
Chart - http://www.stockcharts.com/
BP Plc (BP) stock appears to have made a lower high recently at $39. BP failed at $40 during the week prior so these two levels will now be major resistance. BP is bouncing off the 10 day moving average but continuing to close above it. Support on BP is located at $37, a break below this level could result in a retest of $35. Anything below $35 from this point on is a strong buy. BP will explode to the upside when the stock closes back above $40 per share.
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