BHP Group PLC Technical Analysis – BHP Group PLC Trading: 2022-04-22

 BHP Group PLC Technical Analysis – BHP Group PLC Trading: 2022-04-22

BHP Group PLC Technical Analysis.

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BHP Group PLC Technical Analysis Summary

 Sell Stop։ Below 2799.50

Stop Loss: Above 3024

IndicatorSignal
RSINeutral
MACDSell
MA(200) Buy
FractalsNeutral
Parabolic SARSell
Donchian ChannelSell
  

 

BHP Group PLC Chart Analysis

BHP Group PLC Technical Analysis

The technical analysis of the BHP stock price chart in daily timeframe shows #L-BLT, Daily is retracing down toward the 200-day moving average MA(200) after peaking three weeks ago with MA(200) still rising. We believe the bearish momentum will continue after the price breaches below the lower bound of Donchian Channel at 2799.50. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the fractal high at 3024.00. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (3024.00) without reaching the order (2799.50), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Stocks – BHP Group PLC

BHP stock fell after a report company’s quarterly iron ore shipments fell 8% from the previous three months. Will the BHP stock price continue retreating?

BHP plc is a British publicly traded multinational mining company. It is the largest mining company in the world. Company’s market capitalization is at $278.45 billion. BHP stock is trading at P/E Ratio (Trailing Twelve Months) of 10.74. The company earned $67.88 billion revenue (ttm), a Return on Assets (ttm) of 20.14% and a Return on Equity (ttm) of 33.16%. BHP announced on April 21 its quarterly iron ore shipments fell 8% from the previous three months as production was affected by coronavirus-related labor issues and planned maintenance. It also reported lower copper production – 1,112 thousand tonnes (kt) so far this financial year, down 10% from last year. BHP also cut its annual copper production outlook: a slight downgrade to total copper output forecast to between 1,570 kt and 1,620 kt. Lower production estimates are bearish for a company’s stock.

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