As implied by the subject this look like a "teddy bear" short squeeze rally IMO; new longs ATM look like bad idea, but a good opportunity to buy in at mid twenties coming up ~ if the 200 D_MA is busted some time soon. BTW oil looks to be double topping @ $69.....
The NYSE chart suggests a rising wedge and price action doesn't seem able to make resistance (and just double topped IMO).
Daily chart:
Local market suggests BHP has already dropped out of rising wedge and currently backtesting resistance (just double topped as well with some stiff resistance upcoming).
Weekly chart:
run teddy run, page-12
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Last
$43.48 |
Change
-0.910(2.05%) |
Mkt cap ! $220.5B | |||
| Open | High | Low | Value | Volume |
| $44.10 | $44.11 | $43.42 | $298.9M | 6.843M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 5791 | $43.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.48 | 13649 | 1 |
View Market Depth
| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |