BP plc BP Stock Analysis - 1/26/11

By Tim - http://stockstobuy.org

The following is BP plc (BP) stock technical analysis for January 26, 2011

BP plc (BP) Support & Resistance Levels - 1/26/11

Resistance Levels: $47.11, $47.91

Support Levels: $45, $44

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

BP plc (BP) closed at $46.76 on Wednesday. BP plc (BP) has resistance at $47.11 & $47.91 but then nothing major until $49. BP is a strong buy on pullbacks below $45. BP has support down around $44-$45 and I think it would be highly unlikely for the stock to fall below this area. I still think BP should hit $52-$55 sometime in 2011.

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