The US dollar rose slightly on Friday, so BHP ADR's fell to our equivalent of $38.60.
Here, we have a gap to fill, which from this level should give us a nice 72 cent lift.
Yes, there is a danger of an island reversal in place, so that should be watched carefully. But any pullback should be small and short-lived, in my opinion.
Both daily and weekly charts are in overbought territory, but the monthly has much more to climb.
Two charts: US ADR's daily and BHP locally:
she filled the gap... next week crack 40???, page-14
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Last
$43.40 |
Change
-0.160(0.37%) |
Mkt cap ! $220.1B | |||
| Open | High | Low | Value | Volume |
| $43.11 | $43.56 | $43.09 | $248.4M | 5.730M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5716 | $43.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.41 | 4801 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |