Earlier versions of some of the charts below were posted in early June.
Chart1: Daily Short Sales show that BHP continues to be heavily shorted, usually in excess of 27% per day [lowest was 10% on Dec31, highest on May25 was 44%]. Some gaps filled & a couple of newbies created. Last week BHP repeatedly closed below the lower trend line extending from the Nov21 low of $20 & the March 4 low.
In it's pre-divi rally in 2008 BHP's price rose $6.22 [from $35.82 on Aug5 to $42.07 on Aug29] - after having trended down $10.16 from the swing high on June 24 [42 days]. As of Friday BHP has trended down $5.21 for 21 days since the swing high on June 5. Hmmm?
Chart2: ProfitSource's weekly chart for BHP shows price action is modelling a 5 Year Elliott Wave pattern, with wave 4 showing as completed & a projected Wave 5 target of ~$60.
Chart3: Both the 1 day swing chart & 2 day swing chart show BHP's trend as DOWN!
Chart4: BHP's 1 week swing chart shows the trend as UP!
SUMMARY:
IMO TA data for BHP is sending mixed signals - BHP has fallen about $5 from its recent swing high but if the 2008 pre-divi scenario replayed that would mean another 21 days & %5 further down before any pre-divi rally.
Chart1:
Chart2:
Chart3:
Chart4:
4YIO - NFA - PDYOR
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Last
$42.06 |
Change
-0.930(2.16%) |
Mkt cap ! $213.4B |
Open | High | Low | Value | Volume |
$42.33 | $42.50 | $41.94 | $609.8M | 14.57M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5770 | $42.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$42.11 | 2807 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50 | 42.050 |
1 | 3318 | 42.020 |
1 | 4 | 42.010 |
15 | 8386 | 42.000 |
2 | 43 | 41.990 |
Price($) | Vol. | No. |
---|---|---|
42.180 | 1000 | 1 |
42.200 | 300 | 1 |
42.250 | 1866 | 2 |
42.390 | 2000 | 1 |
42.400 | 2000 | 2 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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BHP (ASX) Chart |