...indeed I called out BHP $50 top since 2021, and I wasn't wrong even 3 years later, BHP topped at $50 twice and now has breached its $41.95 major support level registered in mid-March 2024.
...on 26 July 2021, BHP closed at $47.63, and based on last Friday's close, BHP has declined -12.32% excluding dividends.
...-12.32% excl dividends is not great for our No.1 ASX stock (or No.2) when Wall St chalking all time highs after all time highs.
...and it won't get any better from here. Its Jan 2016-Dec 2023 8 year rally (see All time view) has petered out and now a retracement is in the works. It will likely head for $36-37 or another -13.8% downside.
