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BHP Billiton Set to Possibly Rebound After Yesterday's Selloff of 2.70%
Jan 11, 2013 (SmarTrend(R) News Watch via COMTEX) --
BHP Billiton (NYSE:BBL) traded in a range yesterday that spanned from a low of $66.58 to a high of $67.11. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $68.47 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
SmarTrend recommended that subscribers consider buying shares of BHP Billiton on December 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.33. Since that recommendation, shares of BHP Billiton have risen 7.0%. We continue to monitor BBL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, BHP Billiton share prices have been bracketed by a low of $51.34 and a high of $72.40 and are now at $66.97, 30% above that low price. The 200-day and 50-day moving averages have moved 0.27% higher and 0.64% higher over the past week, respectively.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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