MonkeyDex,
“Perhaps it seems too obvious a rally is on the cards???” I would agree with that statement....
My recently developed indicator tells me that BHP is consolidating and ready to rally hard. It could also mean that we are setting up for a major Bear Trap as the share price has recently defied the emerging/changing fundaments. I know BHP has fallen nearly $6 off it’s recent high but it seems to me that it should be somewhat lower (perhaps in the 24 region).
Last Monday was a major distribution day and we haven’t seen a major accumulation day to neutralize it. So it seems that we may be overdue for another major distribution day. However, it should also be noted that most of the selling is now done and perhaps the NYSE has risen on short covering???
The market also went up on terrible news. A sure sign that the bottom is in.... or is it now too obvious that a rally is on the cards???
MonkeyDex,“Perhaps it seems too obvious a rally is on the...
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Last
$43.40 |
Change
0.410(0.95%) |
Mkt cap ! $220.2B | |||
| Open | High | Low | Value | Volume |
| $43.52 | $44.03 | $43.40 | $362.0M | 8.304M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 14238 | $43.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.44 | 25000 | 3 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |