Just looking at the 3 yr chart on BHP...
In my opinion, this is the last time you will buy BHP for $25.00.
We have got to a point where a small amount of good info will get the price kicked up above $26.00, then it's up the stairs to 30 bucks.
If you just look at the organic shape of the chart alone, I could assume $30.00 is inevitable, question is...when?
I think it's looking like sometime soon i.e. in the next 2-3 months.
18/5/2005 was the last turn around like this one looks like at around $15.80.
I was sitting in a bar back then and talking to a miner from Moranbah and he was convinced that the price would continue to fall, I thought otherwise (Only the shape of the chart made me think this). I said it would probably continue up past $20 bucks. Only 4 months later it got there.
I didn't hold BHP then but now its 30% of my stock.
Just my opinion.
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Just looking at the 3 yr chart on BHP...In my opinion, this is...
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$43.36 |
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Mkt cap ! $219.5B |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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18 | 10272 | 43.370 |
16 | 4927 | 43.360 |
12 | 2917 | 43.350 |
14 | 4029 | 43.340 |
Price($) | Vol. | No. |
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43.390 | 1620 | 8 |
43.400 | 3664 | 9 |
43.410 | 3131 | 7 |
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