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BHP Billiton PLC JSE:BIL - technical trade note

Written by Barry Dumas | 18 Apr 2018

Update (3) - BHP Billiton PLC (BIL) target price 3 reached (17/05/2018).

BHP Billiton PLC (BIL) has crossed our third target price of 29524c and is still looking good for now. I will be managing the stop loss to my second target price of 27995c. I am still expecting the price action to retrace but I will be managing my stop into the profit to my second target price 27995c. I will be looking to add a fourth target price at 30798c but this might be ambitious in the short term.

How to proceed: (Two ways of managing your trade)

  1. Take profit and move on to the next trade.
  2. Move your stop loss into profit at your second target price 27995c and let the price action run to new highs and manage trade higher.

Source: Bloomberg

*End

Update (2) - BHP Billiton PLC (BIL) target price 2 reached 11 May 2018

BHP Billiton PLC (BIL) has crossed our second target price of 27995c and is still looking good to push higher. At some stage the price action will start to retrace but I will be managing my stop into the profit to my first target price 26545c. I have also added a third target price at 29524c.

How to proceed: (Three ways of managing your trade)

  1. Take profit and move on to the next trade.
  2. Move your stop loss into profit at your first target price 26545c and let the price action run to new highs and manage trade higher.
  3. Add to your position to the third target price 29524c.

 

Update - BHP Billiton PLC (BIL) target price 1 reached. [23rd April 2018]

BHP Billiton PLC (BIL) has crossed our first target price of 26545c and is still looking good to push higher. The Rand weakness we are currently seeing is also helping the push higher now on BHP Billiton PLC (BIL).

How to proceed: (Two ways of managing your trade)

  1. Take partial profit and manage your stop to entry 25583c.
  2. Move your stop loss to your entry 25583c and let the price action run to your target price 2 at 27995c and then moving stop loss to first target price 26545c.

Source Bloomberg

 

Trade idea on BHP Billiton PLC (BIL)

BHP Billiton PLC (BIL) has broken out of a medium-term descending channel and is looking good for a buy at 25583c with a first target price of 26545c. The price action has also moved above the 50-day simple moving average and is supporting the my buy sentiment.

Education: Moving Averages

Source: Bloomberg

Trade: BHP Billiton PLC (BIL)

  • Entry (Buy): 25583c
  • Stop loss: 24159c
  • Target price 1: 26545c
  • Target price 2: 27995c

ALSO READ OUR "MOVING AVERAGES" TO BRUSH UP ON YOUR TECHNICALS

 

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