The last close price of the ADR multiplied by the exchange rate is proving to be a resistance line for the local unit. The last close price of the ADRs was 68.23 which at the prevailing exchange rate on open would indicate a price of 32.29 for the local unit. The traders took this up to 32.30 with a series of higher lows and lower lows but not before doing some deep sea diving to 32.13 and shaking out weaker holders.
As we speak the Aussie has gone up to 1.058 which suggests the local ADR equivalents would be priced at 32.24. I am tipping the traders will not let this close above 32.20 as it would set off a mini-break out, so my tip is on a close of 31.19 or less.
resistance
Add BHP (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$43.56 |
Change
0.390(0.90%) |
Mkt cap ! $220.9B | |||
| Open | High | Low | Value | Volume |
| $43.64 | $43.73 | $43.26 | $211.2M | 4.849M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11133 | $43.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.57 | 5435 | 3 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |