BHP Billiton Stock Forecast

Green day on Friday for BHP Billiton stock after gaining 0.224%
(Updated on Apr 19, 2024)

BHP Signals & Forecast

The BHP Billiton stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $58.37. On a fall, the stock will find some support from the long-term average at approximately $57.78. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -3.92%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for BHP Billiton stock

BHP Billiton finds support from accumulated volume at $58.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.691 between high and low, or 1.20%. For the last week the stock has had daily average volatility of 1.63%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BHP) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect BHP Billiton Limited to open at $58.10, and during the day (based on 14 day Average True Range), to move between $56.89 and $59.35, which gives a possible trading interval of +/-$1.23 (+/-2.12%) up or down from last closing price. If BHP Billiton Limited takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $58.10 (0.03%) than the resistance at $58.56 (0.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BHP Billiton Limited stock A Buy?

BHP Billiton holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.041 Sell Candidate Unchanged

Predicted Opening Price for BHP Billiton Limited of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.