BHP Billiton PLC: Buyers Are Trickling In

19 April 2018 | Moxima Gama
 


BOTTOM LINE: BIL is recovering in its long-term bull channel.

(Click image to enlarge)image1

credit: Graph Provided by Sharenet Advanced Online Charts

Trade BIL From 0.3%

Possible scenario:

An upside through 25,500cps could see BIL return to either its major trend-line (dated back to 2005) or the 28,315cps pivotal point. The uptrend would remain intact on firm support retained at 22,575cps, at which point BIL could overcome its major trend-line. In this case, go long above 25,500cps and revise positions when the major trend-line is tested. Otherwise, stay long and increase positions on continued upside, as gains to 30,140cps should then follow.

Alternative scenario:

A negative breakout of the current uptrend would be confirmed below 21,050cps.

banner


Moxima

Moxima Gama
Technical Analyst, Sharenet

Moxima has a B.Comm Finance from the University of South Africa and is a certified Chartered Market Technician Level 2, currently completing Level 3. She has been a technical analyst for 10 years, working for BJM, Noah Financial Innovation and for Standard Bank as part of the Research Team in the Treasury Division of CIB. She now runs her own business, The Money Hub, and consults for Sharenet. Moxima has been rated as one of the top 5 technical analysts in South Africa and outperformed the market during the recent recession. She regularly makes an appearance as a guest on CNBC Africa and writes often for Finweek and Sharenet’s Views.

Read an interview with Moxima, or discover Moxima’s trading insights via Sharenet’s Technical Analysis Newsletter.


Disclaimer:
The information contained in this article is for informational purposes only and must not be regarded as a prospectus for any security, financial product or transaction. It is neither to be construed as financial advice nor to be regarded as a definitive analysis of any financial issue. Investors should consider this research/article as only a single factor in making their investment decision. We recommend you consult a financial planner/advisor to take into account your particular investment objectives, financial situation and individual needs. The views and opinions (where expressed) in this article are those of the author and do not necessarily reflect the official policy or position of Sharenet.

Rate This Article

Your feedback is appreciated and helps us improve our content.

AVG RATING: 0

Thank you for helping us improve our content.

Rate This Article

Your feedback is appreciated and helps us improve our content.

AVG RATING: 0

Thank you for helping us improve our content.

Rate This Article

Your feedback is appreciated and helps us improve our content.

AVG RATING: 0

Thank you for helping us improve our content.