re: back up with comments
Thanks for the feedback Scottaru,
On your second point first regarding range bounding, I see what you mean. But as you've said yourself that makes it a pretty big range pattern (in this case around 25% in last 3 months).
I see the real danger signs will be if the price goes sub $23.50 in the future, which is the level reached back in march.
With regards to your first point, totally agree. As a rank amateur chartist was dipping the toe in the water just from a purist T/A on the BHP chart, and to invoke some feedback as to whether I was on the right track.
Apart from the charts you mentioned, personally I'd also look at the indices for some market trends as well as the usual fundamentals.
I don't currently hold, but looking for a nice entry price in the next few months (if one unfolds) to hold long term.
Thanks again, and welcome any more credible thoughts on this.
BHP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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