BHP GROUP LTD.

- USD (-)

- 15 min delayed data - NYSE Stocks

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Type:	Stocks
Ticker:	BHP
ISIN:

BHP GROUP LTD. - 1H - Technical analysis published on 12/02/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Neutral

Technical indicators

72%

28%

My opinion

Bullish above 51.84 USD

My targets

53.48 USD (+1.62%)

55.46 USD (+5.38%)

My analysis

The strong short-term increase of BHP GROUP LTD. should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 51.84 USD, a purchase could be considered. The first bullish objective is located at 53.48 USD. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 55.46 USD. If there is any crossing, the next objective would be the resistance at 56.72 USD. Caution, if there is a return under 51.84 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

4.1

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.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The BHP GROUP LTD. rating is 52.63 USD. The price registered a decrease of -0.06% on the session and was between 52.39 USD and 53.01 USD. This implies that the price is at +0.46% from its lowest and at -0.72% from its highest.

52.39

53.01

52.63

Here is a more detailed summary of the historical variations registered by BHP GROUP LTD.:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of BHP GROUP LTD. in 1H shows a neutral overall trend. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:

Moving Average bearish crossovers : AMA50 & AMA100

Type : Bearish

Timeframe : 1 hour

In fact, 13 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Near resistance of channel

Type : Bearish

Timeframe : 1 hour

Near resistance of triangle

Type : Bearish

Timeframe : 1 hour

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Black hanging man / hammer

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	50.39	51.12	51.84	52.63	52.73	53.48	55.46
Change (%)	-4.26%	-2.87%	-1.50%	-	+0.19%	+1.62%	+5.38%
Change	-2.24	-1.51	-0.79	-	+0.10	+0.85	+2.83
Level	Major	Intermediate	Intermediate	-	Intermediate	Intermediate	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	51.38	51.77	52.21	52.60	53.04	53.43	53.87
Camarilla	52.43	52.51	52.58	52.66	52.74	52.81	52.89
Woodie	51.42	51.78	52.25	52.61	53.08	53.44	53.91
Fibonacci	51.77	52.08	52.28	52.60	52.91	53.11	53.43

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	49.67	50.39	51.53	52.25	53.39	54.11	55.25
Camarilla	52.15	52.32	52.49	52.66	52.83	53.00	53.17
Woodie	49.87	50.50	51.73	52.36	53.59	54.22	55.45
Fibonacci	50.39	51.10	51.54	52.25	52.96	53.40	54.11

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	42.29	46.71	49.68	54.10	57.07	61.49	64.46
Camarilla	50.63	51.31	51.98	52.66	53.34	54.02	54.69
Woodie	41.58	46.35	48.97	53.74	56.36	61.13	63.75
Fibonacci	46.71	49.53	51.27	54.10	56.92	58.66	61.49

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):	61.44
MACD (12,26,9):	0.1800
Directional Movement:	16.10
AROON (14):	71.43
DEMA (21):	52.47
Parabolic SAR (0,02-0,02-0,2):	52.06
Elder Ray (13):	0.20
Super Trend (3,10):	52.02
Zig ZAG (10):	52.62
VORTEX (21):	1.1200
Stochastique (14,3,5):	66.91
TEMA (21):	52.67
Williams %R (14):	-31.84
Chande Momentum Oscillator (20):	0.78
Repulse (5,40,3):	0.0400
ROCnROLL:	1
TRIX (15,9):	0.0300
Courbe Coppock:	3.85

MA7:	52.16
MA20:	53.33
MA50:	56.29
MA100:	54.60
MAexp7:	52.53
MAexp20:	52.28
MAexp50:	52.24
MAexp100:	52.77
Price / MA7:	+0.90%
Price / MA20:	-1.31%
Price / MA50:	-6.50%
Price / MA100:	-3.61%
Price / MAexp7:	+0.19%
Price / MAexp20:	+0.67%
Price / MAexp50:	+0.75%
Price / MAexp100:	-0.27%

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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