As implied by the subject this look like a "teddy bear" short squeeze rally IMO; new longs ATM look like bad idea, but a good opportunity to buy in at mid twenties coming up ~ if the 200 D_MA is busted some time soon. BTW oil looks to be double topping @ $69.....
The NYSE chart suggests a rising wedge and price action doesn't seem able to make resistance (and just double topped IMO).
Daily chart:
Local market suggests BHP has already dropped out of rising wedge and currently backtesting resistance (just double topped as well with some stiff resistance upcoming).
Weekly chart:
run teddy run, page-12
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Last
$43.59 |
Change
0.430(1.00%) |
Mkt cap ! $219.9B | |||
| Open | High | Low | Value | Volume |
| $43.33 | $43.62 | $43.18 | $66.21M | 1.525M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 2586 | $43.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.60 | 3762 | 7 |
View Market Depth
| Last trade - 12.08pm 03/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |