Sally wrote:
"Mongo: I don't follow moving averages as a rule, however I noticed that in one of your previous posts you said that it was a good thing that the share price was above the 50 day moving average. Well the SP bounced off the 50 day moving average on Friday so would you mind explaining the significance of this;-"
Sally, I use simple moving averages because they are...simpler! And more honest.
You must have used a 50-day exponential moving average, which indeed the price fell to on Friday.
$29.10 is also the 50% retracement of the bull run from July 2003 to May 16 2008, and it is a level which supported the price since October before the eventual slide to $20.
question for ew gurus, page-19
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Last
$42.68 |
Change
-0.470(1.09%) |
Mkt cap ! $216.4B | |||
| Open | High | Low | Value | Volume |
| $42.71 | $43.20 | $42.68 | $463.8M | 10.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13572 | $42.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.70 | 457 | 1 |
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| BHP (ASX) Chart |