Fair enough. But unfortunately that's all it would be, a punt.
There is nothing to suggest that we are approaching a bottom or that we are likely to see a bounce.
People are expecting a bounce because they would like to think that the stocks can't take off such a large amount before taking a step back to re-evaluate.
However, until I see some convincing evidence that we are nearing a technical support level that will hold, and that we will bounce from there, the risk of buying at these levels is far more than the reward you may gain in the short/long term.
Just look back at the charts and note how far BHP can wait before it starts back on its upwards trend.
Yes, China and India will continue to buy materials, but this has absolutely no impact on the short-medium term share price of BHP, which is what we're looking at right now.
Fair enough. But unfortunately that's all it would be, a punt....
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Last
$43.82 |
Change
-0.570(1.28%) |
Mkt cap ! $222.1B | |||
| Open | High | Low | Value | Volume |
| $44.10 | $44.11 | $43.78 | $46.58M | 1.060M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 1962 | $43.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.83 | 2875 | 17 |
View Market Depth
| Last trade - 11.04am 08/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |