I reckon a pull back is on the cards.
A number of my more sensitive indicators are starting to point towards the downside.
IMO the SP will be bounded by the 100 day SMA (as it was previously at $42).
Also the 100 day SMA is reinforced by the upper trading range resistance at $32.
(Note the subtle increase in volume at the top of the trading range in todays trading, im betting thats selling volume.)
Combined with the mid-bolly resistance on the weekly, chances of a pullback are increasing.
Of course market makers may try and gap over this wall of resistance in one hit, then ill go to plan b!
See charts below.
tuesday slide, page-101
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 (20min delay)
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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 |