BHP GROUP LTD.

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
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High / Low range:	-

Type:	Stocks
Ticker:	BHP
ISIN:

BHP GROUP LTD. - Daily - Technical analysis published on 08/21/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

67%

33%

My opinion

Bearish under 57.87 USD

My targets

53.76 USD (-2.75%)

51.82 USD (-6.26%)

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 57.87 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 57.87 USD. The next bearish objective for sellers is set at 53.76 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 51.82 USD. In case of crossing, the next objective would be the support located at 48.13 USD. PS: if there is a bullish break in the resistance located at 57.87 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, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.

Force

0.4

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

The BHP GROUP LTD. rating is 55.28 USD. The price registered an increase of +3.06% on the session with the lowest point at 54.88 USD and the highest point at 55.35 USD. The deviation from the price is +0.73% for the low point and -0.13% for the high point.

54.88

55.35

55.28

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of BHP GROUP LTD. indicates that the overall trend is bearish. 71.43% 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. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily

The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

RSI indicator is back over 50

Type : Bullish

Timeframe : Daily

Aroon indicator bullish trend

Type : Bullish

Timeframe : Daily

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	51.82	53.76	55.00	55.28	57.87	59.91	65.33
Change (%)	-6.26%	-2.75%	-0.51%	-	+4.69%	+8.38%	+18.18%
Change	-3.46	-1.52	-0.28	-	+2.59	+4.63	+10.05
Level	Major	Major	Intermediate	-	Intermediate	Major	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	52.85	53.19	53.42	53.76	53.99	54.33	54.56
Camarilla	53.48	53.54	53.59	53.64	53.69	53.75	53.80
Woodie	52.79	53.16	53.36	53.73	53.93	54.30	54.50
Fibonacci	53.19	53.41	53.55	53.76	53.98	54.12	54.33

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	50.23	51.11	52.18	53.06	54.13	55.01	56.08
Camarilla	52.70	52.88	53.06	53.24	53.42	53.60	53.78
Woodie	50.32	51.16	52.27	53.11	54.22	55.06	56.17
Fibonacci	51.11	51.86	52.32	53.06	53.81	54.27	55.01

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	46.10	49.78	52.66	56.34	59.22	62.90	65.78
Camarilla	53.73	54.33	54.93	55.53	56.13	56.73	57.33
Woodie	45.69	49.58	52.25	56.14	58.81	62.70	65.37
Fibonacci	49.78	52.29	53.84	56.34	58.85	60.40	62.90

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	54.20
MACD (12,26,9):	-0.6400
Directional Movement:	2.64
AROON (14):	85.71
DEMA (21):	53.19
Parabolic SAR (0,02-0,02-0,2):	52.31
Elder Ray (13):	1.26
Super Trend (3,10):	55.69
Zig ZAG (10):	55.28
VORTEX (21):	0.8600
Stochastique (14,3,5):	68.70
TEMA (21):	53.30
Williams %R (14):	-1.80
Chande Momentum Oscillator (20):	2.25
Repulse (5,40,3):	0.8800
ROCnROLL:	-1
TRIX (15,9):	-0.2500
Courbe Coppock:	2.89

MA7:	53.53
MA20:	53.88
MA50:	55.88
MA100:	57.15
MAexp7:	53.90
MAexp20:	54.17
MAexp50:	55.48
MAexp100:	56.46
Price / MA7:	+3.27%
Price / MA20:	+2.60%
Price / MA50:	-1.07%
Price / MA100:	-3.27%
Price / MAexp7:	+2.56%
Price / MAexp20:	+2.05%
Price / MAexp50:	-0.36%
Price / MAexp100:	-2.09%

Quotes : - 15 min delayed data - NYSE Stocks

This member declared not having a position on this financial instrument or a related financial instrument.

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