Member Since 8 December 2015
Last Seen: Mon 17:28
Posted on 6 October 2016, 2:19 PM

Short term outlook on BHP Billton Plc and President Energy Plc

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 .

BHP Billiton Plc is engaged in exploration, development, production, processing and marketing of minerals, in respect of iron ore, metallurgical and energy coal, copper, aluminum, manganese, uranium, nickel, silver and potash, and exploration, development, production and marketing of conventional and unconventional oil and gas. The Company operates through segments, including Petroleum and Potash, Copper, Iron Ore and Coal. The Company's Petroleum and Potash segment is engaged in exploration, development and production of oil and gas and potash pre-development. The Copper segment is engaged in mining of copper, silver, lead, zinc, molybdenum, uranium and gold. The Iron Ore segment is engaged in mining of iron ore. The Coal segment is engaged in mining of metallurgical coal and thermal (energy) coal.


President energy plc

In terms of technical outlook, President Energy Plc looks a little bearish.. The stock finished trading on the London stock exchange at 7.5p on Thursday, 6th October. The stock has been trading  below its 20 DMA, 50 DMA and 100 DMA of 12.11p, 11.28p and 9.5p respectively. Today also stock has made a bearish candlestick pattern named as “Red marubozu’’ and if tomorrow also stock goes below today’s low i.e. 6.0p, the stock might continue falling. The volume also indicate that fresh shorts have been built up on the stock. Therefore, traders or investors shall avoid the stock at least for the time being and should wait for the stock to consolidate and done with its correction. However, if the bearishness continues in the coming days as well we see stock heading towards 4.5 p as well. Therefore, traders or investors shall wait for the stock to consolidate and avoid it for the time being.

President Energy PLC is engaged in the exploration for and the evaluation and production of oil and gas. Its segment includes the exploration and production of hydrocarbons. The Company has oil and gas production in two geographical markets: the United States and Argentina. It has exploration assets in Paraguay, Argentina, the United States and Australia. In Paraguay, it has interest in the Pirity Block, the Demattei Block and the Hernandarias Block. It holds working interest in the CNO-8 Puesto Guardian license, and over two exploration license areas (Matorras and Ocultar) surrounding Puesto Guardian in Salta Province, Argentina. It has interests in approximately two producing oil and gas fields in Louisiana, as operator of the East Lake Verret field and as a partner in the East White Lake field. It also has an interest PEL 82 in South Australia.

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