BHP Should I Buy
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BHP Group Ltd is not a strong buy at the moment for a beginner investor with a long-term horizon. While the company has some positive catalysts such as improving demand in India and Southeast Asia and bullish moving averages, the recent cost overruns and write-down on the Jansen potash project, coupled with hedge fund selling and lack of strong technical or proprietary trading signals, suggest waiting for a more favorable entry point.
The stock's MACD is negative and expanding downward, indicating bearish momentum. RSI is neutral at 45.719, and moving averages are bullish (SMA_5 > SMA_20 > SMA_200). Key support is at 83.634, with resistance at 92.298. The stock closed at 87.87, slightly above the pivot point of 87.966.
Bullish moving averages, improving demand for steel in India and Southeast Asia, and stabilization in the Chinese economy.
Cost overruns and a $2.3 billion write-down on the Jansen potash project, hedge fund selling activity, and lack of significant insider buying or congress trading data.
No financial data available for the latest quarter.
Mixed ratings. Recent upgrades include DZ Bank upgrading to Hold and Argus raising the price target to $95 with a Buy rating. However, other analysts maintain Neutral or Hold ratings, with price targets ranging from 2,400 GBp to 3,400 GBp.
