BHP Billiton is a british-australian mining company, and one of the world’s biggest challenge after a strong end of the previous week with a heavy technical resistance. At the same time are now awaiting the MA 200 just above, and the question is whether buyers who now stepped back into the picture seriously, manages to give strength and back to an establishment over…
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The british-australian mining company BHP Billiton, working with metals such as aluminium, iron ore, copper, gold, and silver to name a few.
With a clearly positive development in 2016 in the luggage, 2017, however, started in the clearly negative progressions. Since the end of the year, the share price has fallen -7%.
Serious köpstyrka looked, however, for just over three weeks ago, which now means that the increase during the three weeks taken us to a heavy technical resistance.
Not the least challenge we have now, thus, a price level which a few years ago experienced significant volume, which means that this price level can come to be hard to beat, but also the ”technical crossroads,” the 200-day moving average (MA 200), be noted just above.
Worth noting is that we now have the basis of a longer-term perspective, even those of us in the lower and outer part of the a significant volume range since the beginning of 2014.
This in turn may, if the establishment of the current resistance level at 1240 and MA 200 is made, may very well mean that the share can come to seek back to the point of equilibrium at 1400.
This balance point is a price level that experienced clearly with the finish within the volymområdet in the 1250-1600 points, then a few years back.
It is not unsurprising that the price can often move towards the interesting technical price levels which balanspunkter, as well as the outer part of the clear volymområden. Several different technical indicators often signals potential turning points at these interesting levels…
Since the beginning of the month of may, has the clear köpstyrka looked back. This could mean that with a little more than a week left until we begin the month of June, would be able to get a closure on plus for the first time since three months back.
This in itself could be a positive sign for the possible turning point. Purely fundamentally, there are at least positive signs, then China stated that it might expand its support for infrastructure, which in itself has been a positive fuel to the particular several base metals.
BHP Billiton PLC
Ticker
BLT
Latest
€1215
Market
LSE
P/E est. 2017
11.08
Direct avk. est. 2017
5.45%
In conclusion, this means that we are waiting for the establishment of the current resistance around 1240, followed by the MA 200 which is currently noted at 1241, before a potential test of the resistance at just over 1 350 can be done.
If weakness from the buyers on the other hand, would occur at the current resistance level, there is an increased risk that the share can come to seek the support level at 1 100.
The stock is traded primarily on the London stock exchange, under the symbol BLT, and are included in the storbolagsindexet the FTSE 100.
