HP (BHP.AU) needs to close above A$30.60 today or recent bullish technical view will be in doubt, according to Dow Jones Newswires technical analysis. Recent break above "neckline" resistance from inverse head & shoulders pattern suggested BHP was headed to A$42.00. But it has been unable to take off on increased volume above the neckline. A close below that line today at A$30.60 would suggest the pattern has failed. That would increase the risk of a fall to A$14.00, based on double top near A$50.00 and continued resistance from former support near A$32.00. But weekly momentum indicators are still rising with bullish divergence. And weekly MACD will give a major buy signal if BHP closes near current levels this week. Traders should consider waiting until Monday before taking a strong view on BHP. BHP down 2.8% at A$30.14, after falling to A$29.14. (DWR)
dj news: bhp needs to close above $30.60
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Last
$38.48 |
Change
-0.430(1.11%) |
Mkt cap ! $195.1B | |||
| Open | High | Low | Value | Volume |
| $39.00 | $39.07 | $38.28 | $213.5M | 5.507M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1156 | $38.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.48 | 5840 | 22 |
View Market Depth
| Last trade - 15.10pm 06/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |