BHP Billiton Limited (ASX:BHP) HEFFX Highlights

BHP Billiton Limited (ASX:BHP) HEFFX Highlights

BHP Billiton Limited (ASX:BHP) HEFFX Highlights

  • The future of BHP Billiton boss ­Andrew Mackenzie has come under ­renewed scrutiny ahead of the miner’s AGMs, as its new chairman looks to further reshape the board.
  • Investors have urged BHP to begin succession planning as Scottish-born Mr Mackenzie approaches his fifth anniversary as chief executive – and 10th anniversary with the company – in March next year.
  • Mr Mackenzie, a former BP executive, has been under pressure to boost shareholder returns after activist investor Elliott Advisors began campaigning for a shake-up in strategy earlier this year. In June it called for Ken MacKenzie, BHP’s new chairman, to “review the executive management team”. The Anglo-Australian mining giant has been forced into a number of strategic reverses in recent months, admitting it would accelerate the sale of its costly onshore US shale assets and pause development of a potash fertiliser mine in Canada – plans that had been championed by Mr Mackenzie.

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 ranging.

The projected upper bound is: 27.48.

The projected lower bound is: 25.79.

The projected closing price is: 26.64.

BHP BLT FPO closed up 0.520 at 26.610. Volume was 36% below average (neutral) and Bollinger Bands were 20% narrower than normal.

Open High Low Close Volume___
26.490 26.610 26.380 26.610 5,431,541

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

Moving Averages: 10-period 50-period 200-period
Close: 25.99 26.33 25.11
Volatility: 17 20 28
Volume: 7,456,378 7,449,022 8,193,530

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
BHP BLT FPO is currently 6.0% above its 200-period moving average and is in an downward trend. Volatility is 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 14 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 72.1698. This is not an overbought or oversold reading. The last signal was a buy 5 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 56.81. 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 21 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 184.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 5 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.

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