Well, CWliew's point is: "now is the time to be nervous, not complacent", my point is: "don't sell yourselves short when it comes to cashing in". These aren't mutually exclusive. Cwliew and I have both picked the old high as the critical price point. You can throw the rest of the technical indicators in the bin when a stock hits a new high.
In BHP's case in particular, technical instruments and even candle analysis can be pretty unrewarding because it trades significantly (ie a lot of volume) on three seperate exchanges. Essentially it is trading 24 hours a day. I use closing prices on BHP, not the candle. One of the safe places to buy, given this, is when it strikes a new high, allowing Darvis box (look it up on the net) trading. It was safe to buy when it hith that new high and drifted back to $47.70, with the close above this level after spending much of the day below this level (remember the closing auction, price went up 30c or so) confirming that the $47.70 level is now strong support.
When/if it drifts back to $47.70 level I would be a buyer. If it closes below I sell and wait. I will take half profits on the target level which is derived by adding the previous Darvis box to the newly developing one.
Until then I hold resolutely.
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Last
$44.01 |
Change
0.210(0.48%) |
Mkt cap ! $223.3B |
Open | High | Low | Value | Volume |
$44.37 | $44.39 | $44.01 | $263.3M | 5.969M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 2432 | $44.01 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$44.10 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 2432 | 44.010 |
71 | 6567 | 44.000 |
3 | 904 | 43.980 |
1 | 8505 | 43.950 |
2 | 1746 | 43.930 |
Price($) | Vol. | No. |
---|---|---|
44.100 | 100 | 1 |
44.120 | 1395 | 1 |
44.150 | 5 | 1 |
44.190 | 8505 | 2 |
44.200 | 33400 | 4 |
Last trade - 16.10pm 15/10/2024 (20 minute delay) ? |
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