BHP Billiton Limited (ASX:BHP) Set to rebrand itself

BHP Billiton Limited (ASX:BHP) Set to rebrand itself

BHP Billiton Limited (ASX:BHP) Set to rebrand itself

  • BHP Billiton set to rebrand itself
  • Miner to drop Billiton from its name as part of efforts to emphasise Australian roots
  • On Monday, the Melbourne-based company will launch an $8m advertising campaign that will play up its Australian roots and birthplace of Broken Hill, a remote mining town in the outback of New South Wales.
  • Activist investor Elliott Advisors has called for an independent review of BHP Billiton’s petroleum business as it continues its campaign to make sweeping changes to the world’s biggest mining company.
  • BHP Billiton chairman Jac Nasser has called on leadership at all levels of Australian Government and Commerce to commit to a decade of broad-based reforms that are necessary to defend the national economy from the creeping threats posed by corporate globalization.

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: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 25.19.

The projected lower bound is: 22.84.

The projected closing price is: 24.01.

BHP BLT FPO closed down -0.490 at 24.010. Volume was 30% above average (neutral) and Bollinger Bands were 18% narrower than normal.

Open         High           Low         Close          Volume
24.210      24.290      23.750      24.010      10,606,431

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

Moving Averages: 10-period       50-period      200-period
Close:                      24.18               24.10              23.97
Volatility:               21                     31                    34
Volume:                  7,518,243      8,095,251      8,581,436

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 0.2% 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 volume flowing into and out of BHP.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BHP.AX and have had this outlook for the last 6 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 41.2281. This is not an overbought or oversold reading. The last signal was a sell 6 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 49.72. 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 82 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 8. This is not a topping or bottoming area. The last signal was a sell 2 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 10 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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