BHP Billiton Limited (ASX:BHP) HEFFX Highlights

BHP Billiton Limited (ASX:BHP) HEFFX Highlights

BHP Billiton Limited (ASX:BHP) HEFFX Highlights

Independent Research GmbH set a GBX 1,350 ($17.59) price objective on BHP Billiton plc (LON:BLT) in a research note published on Thursday, July 20th. The firm currently has a neutral rating on the mining company’s stock.

Several other brokerages also recently commented on BLT. Citigroup Inc. reaffirmed a buy rating on shares of BHP Billiton plc in a report on Tuesday, April 11th. Morgan Stanley set a GBX 1,510 ($19.67) target price on BHP Billiton plc and gave the stock a buy rating in a report on Wednesday, April 12th. HSBC Holdings plc raised BHP Billiton plc to a buy rating and set a GBX 1,500 ($19.54) target price on the stock in a report on Wednesday, April 19th.

Jefferies Group LLC cut their target price on BHP Billiton plc from GBX 1,800 ($23.45) to GBX 1,700 ($22.15) and set a buy rating on the stock in a report on Tuesday, April 18th. Finally, Investec reissued a buy rating and issued a GBX 1,480 ($19.28) price objective on shares of BHP Billiton plc in a research report on Wednesday, May 17th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of GBX 1,303.41 ($16.98).

BHP Billiton Limited is a global resources company. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. Its segments include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is engaged in the exploration, development and production of oil and gas. The Copper segment is engaged in mining of copper, silver, lead, zinc, molybdenum, uranium and gold. The Iron Ore segment is engaged in mining of iron ore. The Coal segment is engaged in mining of metallurgical coal and thermal (energy) coal. Its businesses include Minerals Australia, Minerals Americas, Petroleum and Marketing. The Company extracts and processes minerals, oil and gas from its production operations located primarily in Australia and the Americas. The Company manages product distribution through its global logistics chain, including freight and pipeline transportation. Its businesses include Minerals Australia, Minerals Americas, Petroleum and Marketing.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 24.34.

The projected upper bound is: 26.30.

The projected lower bound is: 24.42.

The projected closing price is: 25.36.

BHP BLT FPO closed down -0.320 at 25.330. Volume was 90% above average (neutral) and Bollinger Bands were 6% narrower than normal.

Open         High          Low          Close         Volume
25.590      25.600      25.190      25.330      16,451,654

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                       24.99             23.95              24.58
Volatility:                26                   25                   33
Volume:                  8,323,143      9,175,140      8,794,560

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

BHP BLT FPO is currently 3.1% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into BHP.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on BHP.AX and have had this outlook for the last 16 periods.

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 80.8756. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 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 62.65. 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 sell 8 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 90. This is not a topping or bottoming area. The last signal was a sell 0 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 buy 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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