#CAC40 #WallSt Sometimes the temptation to do a little research on a company can drag you down a rabbit hole. A desire to discover the words behind the letters, BHP Group Plc (Broken Hill Proprietary) revealed a company, formed in 1885, with a fascinating history. It was funny, an assumption the mob were originally South African, came from their previous name, BHP Billiton and stupid logic the naming convention was related to the best thing to come out of South Africa, Biltong.
Obviously, this shocking discovery demanded more research, in the process discovering the Billiton part of the name came from another, older, company working on Belitung, an island off the coast of Sumatra.
Long (very long) story short, by 2017 BHP could claim to be the largest mining company in the world, based on their market capitalisation alone. And they’ve never had anything to do with a dried beef treat from South Africa!
Similar to every other share, BHP received a similar hammering in March, thanks to Covid-19. In the period since, the share has more than doubled in value and now, is trading higher than before the Covid-19 drop. From our perspective, this is a good sight and promises more for the future. The immediate picture is fairly interesting, suggesting movement beyond 1942p should make an attempt at an initial 2064p, challenging the historical highs from last year (2019). This is liable to prove significant as closure above 2064p calculates as game changing for the longer term with 2503p making a lot of sense as a future ambition.
Above such a level, we’d need revisit the tea leaves but for now, BHP appear to be inspiring some confidence. The share price would need break Red on the chart, currently 1570p, to justify buying running shoes. Even any return below Blue at 1800p would suggest raising an eyebrow in concern.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:56:05PM | BRENT | 48.83 | ‘cess | ||||||||
| 9:57:29PM | GOLD | 1870.89 | |||||||||
| 9:59:10PM | FTSE | 6573 | |||||||||
| 10:00:32PM | FRANCE | 5575.7 | 5519 | 5504.5 | 5480 | 5562 | 5579 | 5595.5 | 5621 | 5539 | ‘cess |
| 10:07:26PM | GERMANY | 13315 | ‘cess | ||||||||
| 10:09:21PM | US500 | 3703.47 | ‘cess | ||||||||
| 10:31:35PM | DOW | 30185 | 29862 | 29785 | 29632 | 30061 | 30244 | 30328.5 | 30484 | 30102 | ‘cess |
| 10:33:33PM | NASDAQ | 12648 | ‘cess | ||||||||
| 10:35:29PM | JAPAN | 26516 |