BHP about to fall. BHPImmediate targets 58, 52. Invalidation at 97.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
BHP/N trade ideas
Flat on BHP. BHPIt is a strange looking B Wave if it is actually one, but we can see a divergence on the horizon. Even if this is an upward Wave C, which it can be, we are still looking at a bearish scenario. All in all, there might still be a "bump" of one kind or another before we travel South on this one.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
BHP - Bouncing off from key support after Head and Shoulder BHP formed Head and should pattern and broke the neck line on Aug 18. The stock has exactly fallen down $13.23 (measured distance from head to neck line) , which is right now bouncing off of the support line 52.45. I expect this stock to chop side ways for some more time hitting short term target 58.18, 59.82 and eventually break out to fill gaps at 64.48 and 70.52
Is BHP getting ready for a buy?BHP.ASX has been in a steady decline but now seems to be forming a double bottom. When the RSI7 passes up above the 30 line, this gives an alert signal. Then watch for the slow stochastic 39,1 to pass above its 27 line as a buy signal within 6 weeks after the alert and then when the EMA39 flattens that confirms the buy. Not financial advise but to show how I set up my charts and do analysis. This arrangement is my unique chart setup which I have used for over 20 years.
BHP - Would it go up without making double bottomSo far ASX:BHP has been going strong from support price approximately $36.00, showing signs of trend reversal but it could be a counter trend move.
I am expecting a price correction here.
from here I expect price moving down to $38.00 , and then $37.00 levels.
finally if It gets down to $36.00 levels would offer good buying opportunity and that is where it would form double bottom .
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Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Plotting The Super Cycle.Since Covid novice investors have flooded to the markets and have been hooked on the high risk speculation game, These speculators look past quality companies with great balance sheets and a lot of free cash flow because they think short term and see limited growth and view them as overall boring. I think we're heading into a very large commodities boom cycle on the macro and companies that are producers will benefit largely off higher prices which will form another massive bubble to take advantage of. There will come a point soon from now imo where companies with poor fundamentals return to their real value (not much) and that $ will go to stronger fundamental business's rich with strong cash flows and long growth runways. In my mind there is no better play than mining stocks who are producers of Gold, Silver, Nickel, Copper, Steel, Potash and lithium, I expect the mining sector as whole to out perform index's for the next decade or so.
BHP GOOD SIGNAL BUYI am a consultant for anyone who needs a consultant, I see that BHP will GO UP IN THIS NEXT MONTHS
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Buying BHP could now be a valid ideaBHP lost a lot in the last months, because of weak raw material prices.
Since corona last longers, it may give a sideward trend the next months. On the down side is not much risk. When crisis is over the demand of raw material will rise and also incoming of BHP.
Actual MACD turned around to show an up trend, so it may be a good idea to buy BHP right now.