Please skip this post if charting is not your cuppa!
The charts below were generated from within ProfitSource software. BHP diehards recently delved into Elliott Waves ... hope they hit the spot folks & that they cheer mongombolo up a bit!
Chart1: Monthly OHLC showing a bullish 96 Monthly Elliott Wave - the Big Picture? It shows BHP moving upwards along EW5 to approx $60 by 2012. The regression line demonstrates that BHP''s price is below its progressive average. Bollinger Bands are just starting to expand again.
Chart2: Daily OHLC showing 300 Day Elliott Wave. Reports I have read indicate that W D Gann preferred to use 300day Elliott Wave periods. Currently applied to BHP this shows an ongoing corrective pattern following the November low. Note the divergence between recent volume & price action. Alos note the support being found at $36.54 [not $36.65 as shown]. Stochastic shows bearish crosses.
Chart3: Daily OHLC showing 185 Day Elliott Wave which started on March 4 & which recently achieved a possible Wave 5 top - it suggests that a Wave 5 correction may already be underway. Note also that Wave 5 might extend further if the recent top is broken.
Chart4: Daily OHLC showing a bullish 115 Day Elliott Wave. It projects a Wave 5 top of approx $42 by October 27. Note also the recent double bottoms shown ....
Chart5: A 1 day swing overlay chart & 2 Day Swing Chart. Both show BHP's current daily chart price trend as DOWN!.
Chart6: A 3 day swing chart shwoing the trend as UNDECIDED
Chart7: A 1 week Swing Chart showing the trend as UNDECIDED
elliott w charts
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 (20min delay)
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Last
$43.40 |
Change
-0.160(0.37%) |
Mkt cap ! $220.1B | |||
| Open | High | Low | Value | Volume |
| $43.11 | $43.56 | $43.09 | $248.4M | 5.730M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5716 | $43.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.41 | 4801 | 2 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |