All quiet here on the BHP front, so i thought i might divulge my BHP trading plan for tomorrow.
A couple of days ago (22.09.08 at 18:07) i posted:
"I would be looking for a pullback in the next couple of days, a partial close of todays gap at least"
Well, the pullback has occurred and the gap has partially closed.
But where to next?...
I think this move within the gap might have a bit further downside, tomorrow im hoping for a tailed candle bouncing off support within the gap.
This support level at $X will be revealed tomorrow when i take a long position.
$X will not be revealed tonight just in case petulant hotcopper investors jump in before me and i dont get served!!
Exiting the position once the SP comes into contact with the downtrend line at approx $39.50 or there abouts.
If the SP opens above $38, ill be going long pre-trade.
This is not a long term hold, analysis of the monthly chart and its potential downside risk scares the pants off me.
(p.s. I only wish it scared the pants off my wife as well !!!!)
where to next
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Last
$39.60 |
Change
0.790(2.04%) |
Mkt cap ! $200.9B | |||
| Open | High | Low | Value | Volume |
| $39.19 | $39.87 | $39.10 | $371.9M | 9.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 10101 | $39.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.60 | 18075 | 2 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |