I am also shorting BHP from $12.10. I saw the gap at $11.25 which was also around a 62.5% retracement as the initial target however the lack of institutional buying in the market at the moment suggests to me that the trend line for the rise at $11 and the 100% retracement around $10.25 and $10.50 become targets.
Below this around $9.50 would be the target which is around a 20% fall.
I see the overall market coming back around 5 to 10% in the coming month or two with the larger resource stocks which have risen significantly being hit by the rising Aus to US $ being hit significantly.
Just my thoughts.
regards
Peter
will we see a bounce, page-9
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Last
$40.44 |
Change
-0.110(0.27%) |
Mkt cap ! $204.9B | |||
| Open | High | Low | Value | Volume |
| $40.52 | $40.63 | $40.33 | $58.39M | 1.436M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 4590 | $40.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.45 | 11406 | 21 |
View Market Depth
| Last trade - 11.46am 14/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |