I remember spotting a diamond pattern with a downside breakout on WBC at $26.75 and calculating the downside target of $22 (after it had already fallen from $31.40) and thinking: "well that can't be right, that would put it on a forward PE of 9".
WBC has just rebounded off $19.
My current downside target on BHP is $33, but this market has put plenty of solid companies on sub-10 PEs on the basis that "we don't know about that e part of the PE". Rationality goes out the window in a bear market, just ask Phil Green.
I remember spotting a diamond pattern with a downside breakout...
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Last
$40.12 |
Change
-0.900(2.19%) |
Mkt cap ! $203.6B | |||
| Open | High | Low | Value | Volume |
| $40.57 | $40.59 | $40.06 | $140.8M | 3.486M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 776 | $40.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.13 | 5678 | 21 |
View Market Depth
| Last trade - 12.52pm 08/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |