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BP Prudhoe Bay Hammered But May Bounce At The 200 Moving Average

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January 25, 2011 – Comments (0)

Oil has been hammered over the last week causing some oil plays to sell off sharply. One of those major sellers is BP Prudhoe Bay Royalty Trust (NYSE:BPT). It has dropped significantly today, and looks like it is going to hit the 200 moving average. This could be a high risk bounce play. The buy area would be at $101.00, on a cross of the 200 moving average.

Gareth Soloway
InTheMoneyStocks.com


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