Australian (ASX) Stock Market Forum

BHP - BHP Group

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Seneca60BC said:
I personally think BHP will breach $30 - the way oil is going - what do you guys think ?........................................
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Hm mightbe a good buy at $30?

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 285.4 519.1 582.5 530.6
DPS 72.7 98.1 103.1 97.9

Date: 10/9/2008
Author: Luke Forrestal
Source: The Australian Financial Review --- Page: 8
Factors such as margins and costs are increasingly becoming a concern forAustralian-listed mining companies. While BHP Billiton and Rio Tinto posted hugeprofit growth in 2007-08, the earnings of many smaller players came underpressure due to rising costs and a downturn in commodity prices

Date: 10/9/2008
Author: Sally Patten
Source: The Australian Financial Review --- Page: 37
Chinese growth is not as closely linked to the developed world as it once was,according to T Rowe Price global equity fund associate portfolio manager, ScottBerg. Berg said a slowdown in Chinese growth to between eight and nine per centin 2009-10 would still make a significant contribution to global growth
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BHP.jpg


thx

MS
 
I had a quick read on the asx website yesterday and saw the Lehmon Brothers who posted that 4 billion loss today were transacting with BHP. Im not familiar with this document and don't know how to interpret it. Is it saying that Lehmon Brothers had 127K shares and now they have less than 3%? Or is the amount that was transacted equal to less than 3% of their holdings? Or am I off on another planet altogether?

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00878642
 
Lots of people keep shorting mining sector such as BHP, RIO, FMG and OZL. if BHP is around $30, personally think it's good to buy. For RIO, seems $85-$90.
Market is getting worse, I am doubting ASX200 will break support point which is 4800 shortly, another support will be 4500. Does anyone have the same opinion with me?
 
netcat8280 said:
Lots of people keep shorting mining sector such as BHP, RIO, FMG and OZL. if BHP is around $30, personally think it's good to buy. For RIO, seems $85-$90.
Market is getting worse, I am doubting ASX200 will break support point which is 4800 shortly, another support will be 4500. Does anyone have the same opinion with me?
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Is that a contradiction? Otherwise I agree, I think BHP is approaching a very good buy. On the ASX, I think the All Ords might break the support of 4800, but I don't see a lot more downside, maybe 4400/4500 yes.
 
sorry cant post a chart atm. But would the period from roughly 1/1/08 to now on a weekly chart be considered a head and shoulders pattern?
 
moXJO said:
sorry cant post a chart atm. But would the period from roughly 1/1/08 to now on a weekly chart be considered a head and shoulders pattern?
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Dow Jones technical analysis has been calling a head and shoulders pattern for BHP for a long time now. The head and shoulders target was $33.00. That target was well and truly taken out today. Its closer to the bottom today than ever before.

A reputable stock market guru who follows technical analysis called a bottom for blue chip companies in late September/early October. Also called for a bottom in commodities.

For what its worth, I bought BHP today at 31.00.

Tulasi
 
BHP hit a new low today since mid 2007. Should be interesting to see where things go over the next couple of weeks... may need to place a few buy orders soon
 
The price of BHP is now at "can't resist point". For the first time ever I've bought the stock. Rio Tinto should very gradually succumb to BHP and they, BHP, appear unhurried.
 
news in

A.C.C.C. NOT TO OPPOSE BHP BILLITON'S PROPOSED ACQUISITION
OF RIO TINTO

The Australian Competition and Consumer Commission has concluded that the
proposed acquisition of Rio Tinto Ltd and Rio Tinto plc by BHP Billiton Ltd is unlikely
to substantially lessen competition under section 50 of the Trade Practices Act 1974.
"This conclusion was reached after conducting a comprehensive review of the
proposed acquisition, including extensive market inquiries with a range of interested
parties and careful consideration of the internal documents of the merger parties,"
ACCC Chairman, Mr Graeme Samuel, said
 
What is the next support level for this stock? Now 31.00-33.00 will act as resistance. As per the chart posted by Tech/A (in shorter's thread) the price target of reaching 28.00 might be achieved next week. Of course after a dead cat bounce of todays price on passage of bill in US congress.
 
mayk said:
What is the next support level for this stock? Now 31.00-33.00 will act as resistance. As per the chart posted by Tech/A (in shorter's thread) the price target of reaching 28.00 might be achieved next week. Of course after a dead cat bounce of todays price on passage of bill in US congress.
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That's it, mate...$28. That's the support point of long term WEEKLY up-trend (200 weeks). It should be a strong support as my understand, at least test it 3 or 4 times around $28 level.

If it is broken down, that means BHP will be going down-trend.
Hopefully Congress will approve this rescure plan during the weekend. And making US dollor going down. That way maybe can push up mining sector.

Anyway, if $28 can't give some support, we will see $25. That's good for long term investors like me... :)

Last time I posted ASX200 will reach 4500, BHP will reach $30 and RIO will get $85-90. If you are a long term investor, buy some BHP at $28, and then buy some at $25, it will make you safe...
 
netcat8280 said:
That's it, mate...$28. That's the support point of long term WEEKLY up-trend (200 weeks). It should be a strong support as my understand, at least test it 3 or 4 times around $28 level.

If it is broken down, that means BHP will be going down-trend.
Hopefully Congress will approve this rescure plan during the weekend. And making US dollor going down. That way maybe can push up mining sector.

Anyway, if $28 can't give some support, we will see $25. That's good for long term investors like me... :)

Last time I posted ASX200 will reach 4500, BHP will reach $30 and RIO will get $85-90. If you are a long term investor, buy some BHP at $28, and then buy some at $25, it will make you safe...
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Hey, where did you get your $28 support from? I have BHP as cracking its long term trend by a whole heap, and then failing the $31 level from Aug 07 and Jan this year. If congress passes the rescue, it wont necessarily save the US from recession, and thus commodities will suffer as well.

Haven't seen this many weekly red bars since the late 90s.
 

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skyQuake said:
Hey, where did you get your $28 support from? I have BHP as cracking its long term trend by a whole heap, and then failing the $31 level from Aug 07 and Jan this year. If congress passes the rescue, it wont necessarily save the US from recession, and thus commodities will suffer as well.

Haven't seen this many weekly red bars since the late 90s.
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$28 is weekly chart of BHP, but not daily chart. I did checked the chart last night, and it's $28 support of 200 weeks moving everage in weekly chart, if monthly chart, it would be $25.
Daily chart could be for 3-6 months, but weekly one could be 3-5 years, monthly would be the longest.
 
Had a look at it, but it has failed to hold anything in the past. Why are u giving it credibility now? I have the 200Week moving average at $29.83, Also, the 200-month SMA is at $13 :p:
 
ColB said:
Hey Nick, when you find someone on this thread that can predict what a share price will drop to or rise to and backs its up with "facts & figures??" please point him/her out to me. Until that happens, I'll express my opinion like many others here who give their thoughts on where an SP may head.

Granted, I should have qualified my statement and given reasons why I don't believe BHP will drop below $30.

For what its worth refer to Mr T's response who puts up a case quite succinctly as to why its not likely to drop below $30

Ans and Kennas are looking at the $32-34 range as a possible bottom. I'll put my balls on the line and predict not below $33.

Time will tell and you may have the last laugh only I don't think many of us will be laughing if BHP goes sub $30

Regards, Col B
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Col b-it seems the day has come and the balls are well and trully on the line-

and trust me i dont want to have the last laugh in a south direction-

wish it's a quick turn around for your sake if u are still in

but i dont have any facts/data saying it will-

Thanks

Nick--
 
Doom and gloom everywhere, i'm sick of it, the negativity is feeding on itself and becoming a self fulfilling prophecy. Screw the American economy, we've taken more of a beating on the markets than they have and we're not even the ones in the ****!

Sure people are selling BHP at the moment, but someones buying those ones being sold and i don't think they're buying them on the expectation that they're going down much further.

Anyone else feeling like they're at a bargain price?
 
Motogoon said:
Sure people are selling BHP at the moment, but someones buying those ones being sold and i don't think they're buying them on the expectation that they're going down much further.
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The road to hell is paved with good intentions :rolleyes:

And imo those bargain hunters' stops will fuel the downward spiral when it keeps going down...
 
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