BHP Billiton Bearish Moving Average Crossover Alert (BBL)
Today, shares of BHP Billiton (NYSE:BBL) have crossed bearishly below their 10-day moving average of $27.39 on a volume of 545K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, BHP Billiton share prices have been bracketed by a low of $16.36 and a high of $49.70 and are now at $27.14, 66% above that low price. The 200-day and 50-day moving averages have moved 0.97% lower and 1.43% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of BHP Billiton on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.56. Since that recommendation, shares of BHP Billiton have risen 4.1%. We continue to monitor BBL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses BHP Billiton