Sure, after 23+ yrs in the market I've learnt that the big boys make the chart (esp on blue chips) but that's the exact reason the LT chart often rings true.
It was the big boys buying BHP hard at $16 about 11-12 yrs back. Lots & lots & lots of stock changed hands around that price, big positions taken as others offloaded from $10. That's how you know they will likely buy it hard again around $16 this time around. These guys are big fund managers, large brokers, they have long memories.
Conversely if they see $16 broken they might be exiting and/or stopping out. They have bottom lines to protect and percentage points to preserve.
I've been wondering if the future fund might be buying some BHP stock right about now, need to look into that.
BHP top up ...., page-80
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Last
$40.01 |
Change
0.800(2.04%) |
Mkt cap ! $202.9B | |||
| Open | High | Low | Value | Volume |
| $40.07 | $40.25 | $39.67 | $474.9M | 11.69M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15864 | $40.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.03 | 1196 | 1 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |