Hi all
I don't hold or trade BHP but here is a longer term chart I posted on weekend charting with a bit more added and my 2cents as I'm interested to see how things play out. Nothing new here.
The red trendline was breached once in November and quickly reclaimed, however second time it was breached SP failed to reclaim on backtest on three attempts, early warning maybe? Possibly the big money had a wiff of the bad news back then. SP then fell away to break down out of the black rising wedge last week as everyone knows. Normally you'd expect a quick back test of the black line which should offer strong resistance with the 20 & 50 MA's moving in?
With the failed rising wedge I've done a redraw to give two possible price channels, the thick blue and thin blue lines which intersect obvious lines of support off recent lows and are possible targets? Interesting to see how it plays out.
Purely speculation and luck to all holders.
Rhodes
weekend chart
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Last
$42.78 |
Change
0.140(0.33%) |
Mkt cap ! $217.0B | |||
| Open | High | Low | Value | Volume |
| $42.25 | $42.97 | $42.14 | $223.0M | 5.233M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 10160 | $42.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.79 | 5000 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |