BP plc BP Stock Analysis - 1/23/11

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for January 23, 2011

BP plc (BP) Support & Resistance Levels - 1/23/11

Resistance Levels: $47.37, $48, $50

Support Levels: $45, $44

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

BP plc (BP)topped out at $49.50 recently and are now testing the 10 day moving average. 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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