ric3224
I make no claims to being an authority having only been active in The market since June 2007 - my backgound really is in Mathematics, statistical analysis, Gann & Elliott Wave theory [via early training programs run by Safety In The Market & Elliott Wave International's online freebies]!
So please weigh up my opinion in that context.
IMO due to the strong resistance BHP faced at $40 & having managed to climb above that level it may now act as strong support. As shown on my last chart [repeated below] the multiple bottoms also suggests a rise to twice the recent range [ie. $8 to about $44].
The bear in me notes how determined shortselling has been this last week so that unless volume spikes they may force the price down to the lower trend line shown in the chart [ie. approx $37]. The DOW's pattern of selloffs in the latter part of each month & buy-back early in the month is reflected in BHP's action & IMO a major correction therein would drag BHP down as well.
To quote robbbbbbbb; 'it's the reward to risk ratio that counts" & IMO for short term traders these appear evenly balanced [ie. $37 - $44].
4YIO - NFA - PDYOR
ric3224I make no claims to being an authority having only been...
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 (20min delay)
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Last
$42.68 |
Change
-0.470(1.09%) |
Mkt cap ! $216.4B | |||
| Open | High | Low | Value | Volume |
| $42.71 | $43.20 | $42.68 | $463.8M | 10.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13572 | $42.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.70 | 457 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |