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After Yesterday's Rally of 1.50% Shares Could Potentially Pullback

By James Quinn

BHP Billiton (NYSE:BBL) traded in a range yesterday that spanned from a low of $27.06 to a high of $27.38. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $27.07 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $27.12, 66% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 1%.

SmarTrend is tracking the current trend status for BHP Billiton and will alert subscribers who have BBL in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders BHP Billiton

Ticker(s): BBL