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  • Is it Time to Buy BP plc (BP), Bank of America Corp. (BAC), Apple Inc. (AAPL)

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    Friday August 27, 2010 at 10:00 am EST
     
    Stock Report - Bank of America Corp. (BAC) Apple Inc. (AAPL), BP plc (BP).
     
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    Bank of America Corp's (NYSE:BAC) shares are trading at $12.44 which is their 52-week low. Chief Executive Brian Moynihan on Monday purchased 30,000 shares of Bank of America's stock at about $13.03 per share. The  purchase by Moynihan was disclosed in a filing with U.S. securities regulators after the close of trading. The purchase is chiefly demonstration of confidence in the bank at a time when its shares are at 52-week low. Bank of America shares ar at support level of $12.62. There is no strong support below this. Resistance above are at $13.23 and $13.84.


    Apple Inc. (NASDAQ:AAPL) will be able to sell iPads in China through China Unicom Hong Kong Ltd. The Sale may start in mid to late September.Unicorn's plans to sell the iPhone 4 have been delayed by network issues. (AAPL) stock is trading at $240.28. Support levels are situated at $227.2, $209.4 and $199.7. Resistance levels are at $246.6 and $252.3.

    BP plc (NYSE:BP) executives are not accepting their fault in the explosion leading to the spill. They said they don't know ho was in charge of the rig at that time. As per Bloomberg's report, Kent Wells said that he never looked into who might have been at fault because he was trying to shut the well. Another manager, David Sims, said he failed to read an e-mail about cementing procedures because it was difficult to see on his Blackberry.  BP plc (NYSE:BP) shares closed at $35.42 on Thursday just below support level of 36.3. Support levels below are at $31.92 and $27.33. Resistance points are located at $38.32, $41.17, $42.29 and $48.45.


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