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Tuesday, January 18, 2011

BP plc BP Stock Analysis - 1/18/11

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for January 18, 2011

BP plc (BP) Support & Resistance Levels - 1/18/11

Resistance Levels: $50

Support Levels: $47


BP plc (BP) is down slightly today after it partnered with a Russian company to explore the Siberian Arctic . 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 $53-$55 sometime in 2011.

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