Market wisdom says that resource stocks lead the market and drop significantly 6 months ahead of a recession.
Back in 2000 BHP and the other miners dropped sharply around mid January. 3-4 months later we had the dotcom crush.
This time financials started the decline and resource stocks follow.
If a recession comes this time, BHP will drop to around $22.
However, this time the sharp drop in BHP's price may have been accelerated by the talk of an expected higher bid for RIO.
Any views?
Market wisdom says that resource stocks lead the market and drop...
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Last
$42.78 |
Change
0.030(0.07%) |
Mkt cap ! $216.9B | |||
| Open | High | Low | Value | Volume |
| $42.92 | $43.08 | $42.62 | $778.2M | 18.12M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $42.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.81 | 119112 | 3 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |