Redback's Australian Stock Market Report: BHP as at 17/8/2010

Tuesday, August 17, 2010

BHP as at 17/8/2010

I won't go into a long spiel about BHP. It needs to get above Friday's high at 40.41 to confirm an uptrend. Today's Slow Stochastic suggests that will happen as it has moved convincingly above its signal line.

Let's see what tomorrow brings.

Cheers

Red

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About this blog

Emphasis in this report is given to inter-market analysis (bonds, gold, international stock markets, currencies), market sector analysis and breadth analysis. Mention will also be made of simple Technical Analysis tools. The main indicators used are the MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), Slow Stochastic, trend lines and On Balance Volume.

To make matters clear. I am not a licensed financial advisor. Any statement that I make should be read as the personal opinion of a simple chartist trying to make sense of a chaotic environment.