Dunno rodster, my $34 support was obliterated in a spectacular fashion.
We can only hope that the selling has now stopped.
But if I were to choose a miner to buy, it'd be RIO. its $20 bucks + down from its highs, and way oversold.
In reality, BHP has held up far better than all the other miners.
I sincerely hope we don't see $32, and I just don't see that as a near term reality - however, I bought BHP the other day, and I was dubious about my initial $34 target a few weeks ago after 35.50 was tested. But hey...you never know.
What I would also like to know, is where are all those dudes from about a month ago who thought BHP would never hit 35 again? They were so sure...
In any case, lets just hope that this is a correction and not the start of a bear market.
The 200dsma has been broken, and that is a good indication of the start of a bear market if you believe history.
thirty three seventy one, page-4
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Last
$40.60 |
Change
0.390(0.97%) |
Mkt cap ! $204.9B | |||
| Open | High | Low | Value | Volume |
| $40.65 | $40.69 | $40.32 | $122.8M | 3.001M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 2738 | $40.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.61 | 2952 | 12 |
View Market Depth
| Last trade - 11.46am 09/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |