Rem,
I agree with your analysis however I would be interested to know what sort of move you would be looking for in your short position. Reason I ask is that, on my analysis, BHP (and RIO) having broken major downtrends in place for 18 months appear to be heading up in a significant way.
I would think that any movement downward for BHP would only be corrective in nature - with a maximum downside target to about the $9.30 level before resuming its uptrend (ie about a 50% retracement).
RIO on the other hand appears ready for another move up in the next week or so - a catch up to BHP which has risen 24% to RIO's 17.5%?? BHP seems to be leading RIO at the moment.
Would be interested in your thoughts.
Regards,
Jaysee
get ready for the short ..., page-3
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Last
$41.63 |
Change
-1.770(4.08%) |
Mkt cap ! $211.2B | |||
| Open | High | Low | Value | Volume |
| $42.00 | $42.20 | $41.58 | $447.3M | 10.70M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1239 | $41.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $41.63 | 14534 | 2 |
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| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |