BHP GROUP LTD-SPON ADR (BHP) Stock Technical Analysis
USA - NYSE:BHP - US0886061086 - ADR
We assign a technical rating of 7 out of 10 to BHP. Although BHP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
BHP has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 54.95, a Stop Loss order could be placed below this zone.
More info and screens
50.14
2 important support areas can be observed.
- A support zone ranging from 52.13 to 54.95. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 50.65 to 50.71. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 55.79 to 56.81. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BHP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BHP is up. |
| ChartMill Relative Strength | 42.6 | NEUTRAL | BHP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of BHP is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BHP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BHP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.37 | NEUTRAL | The RSI value for BHP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests BHP has a negative trend. |
| Stochastics (14,3) | 51 | NEUTRAL | The Stochastics value for BHP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.43 | MEDIUM VOLATILITY | The ATR as a percentage value for BHP suggests some volalility. |
| Average Directional Index/ADX (14) | 9.69 | NEGATIVE | The low ADX value for BHP suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 56.82 | 54.83 | 1.99 (3.50%) | 25.00% |
| An entry @56.82. This is a Buy Stop order right above the resistance zone. | An exit @54.83. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.99 points, which is 3.50%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.88%. |
- The distance between exit and entry is rather small compared to the average daily movement of BHP. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
55.62
+0.33 (+0.6%)
BHP GROUP LTD-SPON ADR / BHP FAQ
What is the ChartMill technical rating of BHP GROUP LTD-SPON ADR (BHP) stock?
ChartMill assigns a technical rating of 7 / 10 to BHP.
What is the trend direction for BHP stock?
The current trend direction for BHP GROUP LTD-SPON ADR (BHP) is Bullish.
Can you provide the RSI signal for BHP GROUP LTD-SPON ADR?
BHP GROUP LTD-SPON ADR (BHP) has an RSI value of 51.3676. This indicates that the stock is currently neutral.
Can you provide the short term momentum for BHP GROUP LTD-SPON ADR?
The short term momentum for BHP GROUP LTD-SPON ADR (BHP) is positive.
What is the support and resistance level for BHP stock?
BHP GROUP LTD-SPON ADR (BHP) has a support level at 54.95 and a resistance level at 55.79. Check the full technical report for our detailed analysis of BHP support and resistance levels.