BP plc BP Stock Analysis - 1/16/11

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for January 16, 2011

BP plc (BP) Support & Resistance Levels - 1/16/11

Resistance Levels: $50

Support Levels: $47

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

BP plc (BP) closed at $49.25 Friday and is now on pace for $50. BP plc (BP) has resistance at $50 but then nothing major until $52-$53. BP will see some technical buying now that the stock has closed well above $47. BP is a strong buy on pullbacks below $45. I think BP should hit $52-$55 sometime in 2011.

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