I got RIo very wrong recently, so can't take too many accolades on that one. I'd say BHP under 41 is probably a decent buy, although the problem with this, could be the fact that if the dow continues to correct below its technical level of 13100, then we could see it further down, to the 38.30 level.
A buy at low 40's would present the best chance for the bounce. Having said that BHP is up in london tonight, with futures showing a neutral US open, however I feel that it would be best if the US opened down and rallied, to give australia the feeling of an impending bounce, rather than it open flat and fall later in the day. We tend to over exaggerate moves down like that.
Of note, the USD/Yen, which has been the most significant predictor as of late, has fallen tonight to below 110.
long rio short bhp, page-17
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Last
$40.01 |
Change
0.800(2.04%) |
Mkt cap ! $202.9B | |||
| Open | High | Low | Value | Volume |
| $40.07 | $40.25 | $39.67 | $474.9M | 11.69M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15864 | $40.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.03 | 1196 | 1 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |