One of HC's most widely followed posters '5shareholder' has made a huge call on BHP. He notes:' I'm very bearish on base metals. BHP and copper alike are forming the final stages of a pretty ugly head and shoulders pattern. I think its very possible over the next 12-18 months that traders will get a look at BHP below $20 with a potential target of roughly $16-$18. NCM's demise has demonstrated that market powerhouses can and will fail given the right conditions. BHPB won't fail as catastrophically as NCM, but as a stock it will struggle.'
I share his pessimism but am not as bearish. I guesstimate BHP will hit $27 over next 12 months but falling AUD and pension funds desparate for ffr divs will stop the rot. But what do i know? Montgomery and others say it will break $20!! I do feel we are facing a tough FY14 and index will be less than close of FY13. I have no intention of buying BHP as macro is too lousy. But BHP has oil unlike many miners.
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Last
$40.21 |
Change
-0.810(1.97%) |
Mkt cap ! $203.9B |
Open | High | Low | Value | Volume |
$40.57 | $40.59 | $40.06 | $321.6M | 7.985M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5550 | $40.20 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$40.22 | 5300 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 5550 | 40.200 |
1 | 5000 | 40.190 |
2 | 4739 | 40.180 |
2 | 849 | 40.160 |
2 | 1530 | 40.150 |
Price($) | Vol. | No. |
---|---|---|
40.220 | 5300 | 2 |
40.240 | 43455 | 2 |
40.250 | 3000 | 1 |
40.270 | 3950 | 3 |
40.290 | 7005 | 1 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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BHP (ASX) Chart |