After Yesterday's Rally of 1.37% Shares Could Potentially Pullback
BHP Billiton (NYSE:BHP) traded in a range yesterday that spanned from a low of $30.24 to a high of $30.79. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $30.38 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 66% above that low price at $30.70 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.5%.
SmarTrend is tracking the current trend status for BHP Billiton and will alert subscribers who have BHP in their portfolio or watchlist when shares have changed trend direction.
Keywords: rebounders BHP Billiton