One of HC's most widely followed posters '5shareholder' has made a huge call on BHP. He notes:' I'm very bearish on base metals. BHP and copper alike are forming the final stages of a pretty ugly head and shoulders pattern. I think its very possible over the next 12-18 months that traders will get a look at BHP below $20 with a potential target of roughly $16-$18. NCM's demise has demonstrated that market powerhouses can and will fail given the right conditions. BHPB won't fail as catastrophically as NCM, but as a stock it will struggle.'
I share his pessimism but am not as bearish. I guesstimate BHP will hit $27 over next 12 months but falling AUD and pension funds desparate for ffr divs will stop the rot. But what do i know? Montgomery and others say it will break $20!! I do feel we are facing a tough FY14 and index will be less than close of FY13. I have no intention of buying BHP as macro is too lousy. But BHP has oil unlike many miners.
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Last
$43.35 |
Change
-0.210(0.48%) |
Mkt cap ! $220.2B |
Open | High | Low | Value | Volume |
$43.11 | $43.56 | $43.09 | $121.0M | 2.790M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 4520 | $43.35 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$43.36 | 2841 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 6745 | 43.340 |
19 | 5812 | 43.330 |
13 | 4848 | 43.320 |
14 | 7539 | 43.310 |
17 | 28182 | 43.300 |
Price($) | Vol. | No. |
---|---|---|
43.350 | 1208 | 8 |
43.360 | 4264 | 13 |
43.370 | 5761 | 15 |
43.380 | 3002 | 8 |
43.390 | 2942 | 9 |
Last trade - 12.56pm 12/07/2024 (20 minute delay) ? |
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BHP (ASX) Chart |