BHP Billiton Stock Forecast
BHP Billiton stock price up 1.05% on Thursday
(Updated on May 02, 2024)
The BHP Billiton stock price gained 1.05% on the last trading day (Thursday, 2nd May 2024), rising from $55.00 to $55.58. During the last trading day the stock fluctuated 1.51% from a day low at $55.51 to a day high of $56.35. The price has risen in 6 of the last 10 days but is still down by -4.16% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 584 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $148.57 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $54.67 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.98% during the next 3 months and, with a 90% probability hold a price between $53.04 and $58.19 at the end of this 3-month period.
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BHP Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 1.05%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BHP Billiton stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $56.49 and $57.67. A break-up above any of these levels will issue buy signals. 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 $55.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.84 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 1.84%.
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 Friday 3rd
For the upcoming trading day on Friday, 3rd we expect BHP Billiton Limited to open at $55.81, and during the day (based on 14 day Average True Range), to move between $54.33 and $56.83, which gives a possible trading interval of +/-$1.25 (+/-2.24%) up or down from last closing price. If BHP Billiton Limited takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $55.16 (0.76%) than the resistance at $57.74 (3.89%), 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 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: -1.063 Sell Candidate Unchanged
Predicted Opening Price for BHP Billiton Limited of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$55.81 ( 0.420%) | $55.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 56.65 | 1.93 % | |
R2 | 56.33 | 1.35 % | ||
R1 | 56.13 | 1.00 % | ||
Current price: | 55.58 | |||
Support | S1 | 55.49 | -0.158 % | |
S2 | 55.29 | -0.514 % | ||
S3 | 54.97 | -1.09 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.49 | 7.03 % | |
R2 | 58.56 | 5.36 % | ||
R1 | 57.74 | 3.89 % | ||
Current price | 55.58 | |||
Support | S1 | 55.16 | -0.756% | |
S2 | 55.00 | -1.04% | ||
S3 | 0 | . |
BHP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 07, 2024 | Mar 28, 2024 | $1.44 | 2.50% |
2 | Sep 07, 2023 | Sep 07, 2023 | Sep 28, 2023 | $1.60 | 2.80% |
3 | Feb 27, 2023 | Mar 09, 2023 | Mar 30, 2023 | $1.79 | 2.84% |
4 | Aug 22, 2022 | Sep 01, 2022 | Sep 22, 2022 | $3.50 | 6.83% |
5 | Aug 19, 2020 | Sep 03, 2020 | Sep 22, 2020 | $0.98 | 2.08% |
FAQ
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