After Yesterday's Rally of 1.71% Shares Could Potentially Pullback
BHP Billiton (NYSE:BBL) traded in a range yesterday that spanned from a low of $31.26 to a high of $31.67. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $31.32 on volume of 1.2 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, shares of BHP Billiton have traded between a low of $16.36 and a high of $49.70 and are now at $31.51, which is 93% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 1.4%.
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 16.5%. We continue to monitor BBL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders BHP Billiton