Upgrade Alert for BHP Billiton (BHP)
BHP Billiton (NYSE:BHP) was upgraded from Hold to Buy at Argus Research today. The stock closed yesterday at $31.49 on volume of 4.6 million shares, below average daily volume of 4.6 million.
In the past 52 weeks, shares of BHP Billiton have traded between a low of $18.46 and a high of $52.43 and closed yesterday at $31.49, which is 71% above that low price. The 200-day and 50-day moving averages have moved 0.72% lower and 1.48% higher over the past week, respectively.
BHP Billiton has overhead space with shares priced $31.49, or 29.3% below the average consensus analyst price target of $44.56. BHP Billiton shares have support at the 200-day moving average (MA) of $29.28 and additional support at the 50-day MA of $27.25.
BHP Billiton Limited is an international resources company. The Company's principal business lines are mineral exploration and production, including coal, iron ore, gold, titanium, ferroalloys, nickel and copper concentrate, as well as petroleum exploration, production, and refining.
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 4.9%. We continue to monitor BHP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades BHP Billiton