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BHP Billiton Crosses Above its 10-day MA (BHP)

By Amy Schwartz

BHP Billiton (NYSE:BHP) shares have crossed bullishly above their 10-day moving average of $27.27 on a volume of 1.3 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

BHP Billiton share prices have moved between a 52-week high of $52.43 and a 52-week low of $18.46 and are now trading 52% above that low price at $28.04 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of BHP Billiton on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $28.09. Since that call, shares of BHP Billiton have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses BHP Billiton

Ticker(s): BHP