Member Since 8 December 2015
Last Seen: 11 Mar '19

ShrutiAggarwal's Insights

Relating to BLT.L

Topics: Analysis
Other Insights on Related Shares: BLT.L, PPC.L

BHP Billton:

BHP Billiton plc looks pretty bullish on the charts with huge volume breakout!  The stock finished trading on London stock exchange at 1212p on Thursday 6th October. Currently, the stock has been trading above its 20 DMA , 50 DMA and 100 DMA of 1082p, 1043.9p and 965.9p respectively. A few days back, the stock gave a breakout above 1168p and has started trading in the new channel of 1168p-1240p. Therefore, if the rally sustains, we see the stock touching 1240p very soon. For the last 4 trading days, the stock has been giving positive closing , indicating strong technicals, hinting towards the bullishness of the stock. Two years back, the stock used to trade at 2000p, thus traders or investors need to keep an eye on the levels of the stock as if the rally continues, it may even bounce back to 2000p too. However, any minor correction in the middle of the rally can’t be ruled out either, but that could also be used as another lucrative opportunity to buy the stock. The next resistance for the stock would be 1240p and the support is seen at 1168p . (Read more)

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