J_Clark
Here is the weekly BHP chart.
I can see further downside from the technical aspect, the $32 level you are referring to is the 38.2% fibonacci retracement level as I see it.
The weekly MACD is still very much bearish at the moment.
Right now it is clinging to the 23.6% fib level, so I expect some support here for a while. In fact it could bounce back to $42 before resuming the downtrend.
If this current level breaks there is trendline suport in the $37 area.
If that breaks then $32-50 could well be the next target.
Does make BHP very attractive at that price.......
Chart looks like this
Cheers
Commy
J_ClarkHere is the weekly BHP chart.I can see further downside...
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Last
$42.78 |
Change
0.030(0.07%) |
Mkt cap ! $216.9B | |||
| Open | High | Low | Value | Volume |
| $42.92 | $43.08 | $42.62 | $778.2M | 18.12M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $42.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.81 | 119112 | 3 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |