So... This illustrates that charts are indeed useful, although I'm not a TA guy at all I do like to use LT charts to review historical price action & obvious support levels are useful to me.
Now BHP has touched down to around the predicted (by the chart) $16. I have purchased some stock around that price.
My next prediction (as stated in my previous post) is that if that $16ish price gets broken $10 becomes a genuine possibility as the next support level IMHO based on the LT chart.
Keep some bullets handy, I'll be buying if this eventuates.
Some of you are going to sledge me and others will ask "why buy at $16 if $10 is on the cards?"
My answer is that I picked $16 as a possible support, it may very well bounce from here and I want a position. I'm not convinced $10 will happen, just a possibility if $16 can't hold.
BHP top up ...., page-78
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Last
$42.68 |
Change
-0.470(1.09%) |
Mkt cap ! $216.4B | |||
| Open | High | Low | Value | Volume |
| $42.71 | $43.20 | $42.68 | $463.8M | 10.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13572 | $42.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.70 | 457 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |