By Tim - http://stockstobuy.org
The following is BP plc (BP) stock technical analysis for December 14, 2010
BP plc (BP) Support & Resistance Levels - 12/14/10
Chart - http://www.stockcharts.com/
BP plc (BP) Support & Resistance Levels - 12/14/10
Resistance Levels: $$45.57
Support Levels: $42, $40
Support Levels: $42, $40
Chart - http://www.stockcharts.com/
BP plc (BP) recently closed above the 200 day moving average and is now basing above this level. BP has major resistance located at $45.57 but then nothing until $47-$48. If BP can close above $45.57, I think it can easily run back to $48. BP has support on the downside down at $40. BP has two key lows that must hold on the next major selloff. These lows are $39.76 and $39.58. If BP breaks down through these, the stock will sell off more but create a nice buying opportunity.
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