That rectangular pattern from August to now looks like a continuation flag, where price consolidates in a range --$4 here, half of BHP's famous $8 range-- and then....continues in the same direction: UP.
I could be wrong, but it looks very much like the previous, late March to May flag. Three attempts at a high, the last mildly succeeded, pulled back and went on to make the June high at the 161.8% fib extension.
Were that to be repeated now, we pull back, then go to 161.8% fib at $42.40.
The circled top right corner of the previous pattern looks identical to the last 3 trading days of now, too: price gaps up to make a new high, falls back slightly the next day.
Moving averages and indicators are pretty much at the same formation both times, too.
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Last
$42.96 |
Change
0.360(0.85%) |
Mkt cap ! $217.6B |
Open | High | Low | Value | Volume |
$42.69 | $43.23 | $42.51 | $142.2M | 3.318M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 2681 | $42.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$42.96 | 5169 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 3151 | 42.890 |
22 | 11128 | 42.880 |
25 | 3917 | 42.870 |
12 | 2054 | 42.860 |
9 | 3772 | 42.850 |
Price($) | Vol. | No. |
---|---|---|
42.900 | 2951 | 28 |
42.910 | 3661 | 16 |
42.920 | 2816 | 11 |
42.930 | 2490 | 8 |
42.940 | 2206 | 7 |
Last trade - 15.54pm 07/11/2024 (20 minute delay) ? |
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BHP (ASX) Chart |