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Wednesday, August 25, 2010

BP plc (BP) Stock Analysis - 8/25/10

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for August 25, 2010

BP plc (BP) Support & Resistance Levels - 8/25/10

Resistance Levels: $37, $38.35, $40

Support Levels: $34.00, $32.50

Chart - http://www.stockcharts.com/

BP Plc (BP) broke below the recent $34.58 this morning and is now below the 50 day moving average. BP stock is now back below all three major moving averages as the stock market takes a nose dive. I continue to view BP as a buy below $35. BP will have more support at $34 but then nothing until $32.50.

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