BHP Billiton Grant King Retires

BHP Billiton Grant King Retires

BHP Billiton has announced a board shake up that will see Grant King depart just six months after his appointment “owing to concerns expressed by some investors”. The company said Mr King had decided not to stand for election to the board and would retire from the role on August 31. The former chief executive of Origin Energy joined BHP’s board in February as an independent non-executive director. Investors had questioned Mr King’s record at Origin Energy after the company was forced to take writedowns on a liquefied natural gas project in Queensland.

Technical Analysis

trading

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 0.14.

The projected upper bound is: 0.14.

The projected lower bound is: 0.10.

The projected closing price is: 0.12.

Candlesticks

During the past 10 bars, there have been 0 white candles and 3 black candles for a net of 3 black candles. During the past 50 bars, there have been 14 white candles and 13 black candles for a net of 1 white candles.

A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).

A long legged doji occurred. If this occurs during an uptrend it often signifies a top.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 57.1428. This is not an overbought or oversold reading. The last signal was a buy 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 41.80. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 49 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -42. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 12 period(s) ago.

Rex Takasugi – TD Profile

BENITEC BIOPHAR closed unchanged at 0.120. Volume was 97% above average (neutral) and Bollinger Bands were 29% narrower than normal.

Open   High    Low     Close    Volume
0.120   0.130  0.120   0.120  202,688

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period   50-period   200-period
Close:                       0.12             0.13             0.14
Volatility:                65                80                148
Volume:                  108,446      96,470        298,768

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

BENITEC BIOPHAR is currently 16.2% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BLT.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on BLT.AX and have had this outlook for the last 10 periods.

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Ivy Heffernan

Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.

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