ric3224
I make no claims to being an authority having only been active in The market since June 2007 - my backgound really is in Mathematics, statistical analysis, Gann & Elliott Wave theory [via early training programs run by Safety In The Market & Elliott Wave International's online freebies]!
So please weigh up my opinion in that context.
IMO due to the strong resistance BHP faced at $40 & having managed to climb above that level it may now act as strong support. As shown on my last chart [repeated below] the multiple bottoms also suggests a rise to twice the recent range [ie. $8 to about $44].
The bear in me notes how determined shortselling has been this last week so that unless volume spikes they may force the price down to the lower trend line shown in the chart [ie. approx $37]. The DOW's pattern of selloffs in the latter part of each month & buy-back early in the month is reflected in BHP's action & IMO a major correction therein would drag BHP down as well.
To quote robbbbbbbb; 'it's the reward to risk ratio that counts" & IMO for short term traders these appear evenly balanced [ie. $37 - $44].
4YIO - NFA - PDYOR
- Forums
- ASX - By Stock
- BHP
- info
info, page-6
-
- There are more pages in this discussion • 41 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add BHP (ASX) to my watchlist
|
|||||
Last
$40.67 |
Change
-0.270(0.66%) |
Mkt cap ! $206.2B |
Open | High | Low | Value | Volume |
$40.68 | $40.79 | $40.53 | $235.7M | 5.786M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 250 | $40.65 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$40.68 | 8347 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 250 | 40.650 |
1 | 1000 | 40.620 |
2 | 325 | 40.600 |
1 | 2 | 40.560 |
4 | 1693 | 40.550 |
Price($) | Vol. | No. |
---|---|---|
40.690 | 543 | 1 |
40.730 | 1388 | 1 |
40.740 | 1000 | 1 |
40.760 | 950 | 2 |
40.800 | 30 | 1 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
BHP (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online