BHP Billiton Limited (ASX:BHP) HEFFX Highlights

BHP Billiton Limited (ASX:BHP) HEFFX Highlights

BHP Billiton Limited (ASX:BHP) HEFFX Highlights

  • The world’s largest mining company BHP Billiton said 2017 will be considered a tipping point for electric cars, boosting demand for commodities from copper to nickel.
  • “I think if we look back in a few years we would call 2017 the tipping point of electric vehicles,” Arnoud Balhuizen, head of marketing at BHP, said at an event at Reuters in Singapore.
  • BHP, a producer of copper, oil, nickel, iron ore and coal, expects electric vehicles to grow to 140m in 2035, around 8 per cent of the global car fleet.
  • “Industry forecasts are catching up, the overall consensus is becoming greener,” he said.

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: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 26.70.

The projected lower bound is: 24.91.

The projected closing price is: 25.81.

BHP BLT FPO closed up 0.200 at 25.780. Volume was 29% above average (neutral) and Bollinger Bands were 21% wider than normal.

Open           High          Low            Close         Volume
25.800       25.925       25.760       25.780      11,050,749

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

Moving Averages: 10-period          50-period      200-period
Close:                       25.97                 26.22              25.08
Volatility:                10                      22                     28
Volume:                   8,263,949       7,935,970       8,330,265

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 2.8% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of BHP.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on BHP.AX and have had this outlook for the last 9 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 25.3101. This is not an overbought or oversold reading. The last signal was a buy 0 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 40.48. 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 16 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 -76. This is not a topping or bottoming area. The last signal was a buy 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 sell 14 period(s) ago.

The following two tabs change content below.

John Heffernan

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

Latest posts by John Heffernan (see all)

You must be logged in to post comments :  
CONNECT WITH