If the rumours are true about the chinese gaining a share of bhp then it would also be true that is partly responsiable for the drive in the share price.
There is nothing in the short term that will drive the price up like this. I therefore believe that after the chinese have taken their placement that the share price will fall back by approximately 20%.
I also beleive that the market has been too bullish and that there is worst news to come, that will drive tah asx back to 4400 and the market will suffer a second round of huge losses. This will result in daytraders and specultors taking a longer time to recover and stagnate the market for a longer period than precious corrections. It would seem day traders and speculators are not leaningin their lesson.
I believe in the short term these two factors will bring downside to bhp price.
will slide after chinese finish placement
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Last
$42.68 |
Change
-0.470(1.09%) |
Mkt cap ! $216.4B | |||
| Open | High | Low | Value | Volume |
| $42.71 | $43.20 | $42.68 | $463.8M | 10.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13572 | $42.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.70 | 457 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |