BHP Billiton Crosses Below its 10-day MA (BHP)
Today, shares of BHP Billiton (NYSE:BHP) have crossed bearishly below their 10-day moving average of $31.51 on a volume of 904K shares. This may provide short-term investors a chance 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 $18.46 and a high of $52.43 and are now at $31.37, 70% above that low price. 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 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 $30.72. Since that recommendation, shares of BHP Billiton have risen 4.0%. We continue to monitor BHP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses BHP Billiton