BHP GROUP LTD. - Daily - Technical analysis published on 07/29/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 58.03 USD
My targets
51.55 USD (-4.55%)
46.39 USD (-14.11%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 58.03 USD remains possible. It is advisable to trade BHP GROUP LTD. with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 58.03 USD. The next bearish objective for sellers is set at 51.55 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 46.39 USD. In case of crossing, the next objective would be the support located at 43.90 USD. PS: if there is a bullish break in the resistance located at 58.03 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.3
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Additional analysis
Quotes
The BHP GROUP LTD. rating is 54.01 USD. The price is lower by -0.02% since the last closing and was traded between 53.88 USD and 54.39 USD over the period. The price is currently at +0.24% from its lowest and -0.70% from its highest.53.88
54.39
54.01
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of BHP GROUP LTD. in Daily shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 46.39 | 51.55 | 53.69 | 54.01 | 58.03 | 64.24 | 67.44 |
Change (%) | -14.11% | -4.55% | -0.59% | - | +7.44% | +18.94% | +24.87% |
Change | -7.62 | -2.46 | -0.32 | - | +4.02 | +10.23 | +13.43 |
Level | Intermediate | Intermediate | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 52.05 | 52.69 | 53.36 | 54.00 | 54.67 | 55.31 | 55.98 |
Camarilla | 53.66 | 53.78 | 53.90 | 54.02 | 54.14 | 54.26 | 54.38 |
Woodie | 52.06 | 52.70 | 53.37 | 54.01 | 54.68 | 55.32 | 55.99 |
Fibonacci | 52.69 | 53.19 | 53.50 | 54.00 | 54.50 | 54.81 | 55.31 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 46.92 | 48.19 | 49.64 | 50.91 | 52.36 | 53.63 | 55.08 |
Camarilla | 50.34 | 50.59 | 50.84 | 51.09 | 51.34 | 51.59 | 51.84 |
Woodie | 47.01 | 48.24 | 49.73 | 50.96 | 52.45 | 53.68 | 55.17 |
Fibonacci | 48.19 | 49.23 | 49.87 | 50.91 | 51.95 | 52.59 | 53.63 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 35.19 | 44.61 | 50.40 | 59.82 | 65.61 | 75.03 | 80.82 |
Camarilla | 52.00 | 53.39 | 54.79 | 56.18 | 57.57 | 58.97 | 60.36 |
Woodie | 33.37 | 43.70 | 48.58 | 58.91 | 63.79 | 74.12 | 79.00 |
Fibonacci | 44.61 | 50.42 | 54.01 | 59.82 | 65.63 | 69.22 | 75.03 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 50.96 | |
MACD (12,26,9): | -1.1700 | |
Directional Movement: | 0.97 | |
AROON (14): | 71.43 | |
DEMA (21): | 51.13 | |
Parabolic SAR (0,02-0,02-0,2): | 49.46 | |
Elder Ray (13): | 1.49 | |
Super Trend (3,10): | 54.19 | |
Zig ZAG (10): | 54.05 | |
VORTEX (21): | 0.7400 | |
Stochastique (14,3,5): | 94.14 | |
TEMA (21): | 52.00 | |
Williams %R (14): | -6.57 | |
Chande Momentum Oscillator (20): | 3.89 | |
Repulse (5,40,3): | 1.2600 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.5500 | |
Courbe Coppock: | 2.02 |
MA7: | 52.71 | |
MA20: | 51.86 | |
MA50: | 57.89 | |
MA100: | 61.82 | |
MAexp7: | 52.98 | |
MAexp20: | 53.13 | |
MAexp50: | 56.33 | |
MAexp100: | 58.55 | |
Price / MA7: | +2.47% | |
Price / MA20: | +4.15% | |
Price / MA50: | -6.70% | |
Price / MA100: | -12.63% | |
Price / MAexp7: | +1.94% | |
Price / MAexp20: | +1.66% | |
Price / MAexp50: | -4.12% | |
Price / MAexp100: | -7.75% |
Quotes :
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15 min delayed data
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NYSE Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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