BHP.AX Share Price

The past 3 months have seen a reasonable downward trend due to Samarco dam spill, however the past couple of months would indicate clear capitulation selling (with lows in the mid $16's), no?  I was waiting to purchase BHP.AX at its bottom for a bargain price [as resource giants like these tend to have a relatively speedy bounce back after what seems like 'unforgivable' accidents at the time and in the media (see BP oil spill share price recovery after 2010)] however today the share price is rallying up 0.63 points, despite three negatively impacting news headlines today including an increase in the death toll, cuts to iron ore price forecasts for 2016 (yet again), and news of  the need for capital injection by Vale-BHP.
To me these seem like severely damaging reports on share price, yet we see the highest the shares have been in 13 days at $17.49. Could this possibly mean the share price bottom has come and gone at mid-high $16's? If so, i would still be considering $17.50 a value buy on a company worth... well, to hedge my bets, i will just say worth more in 6-12 months...or even more certainly in the long-term.