Technical Analysis
BHP's stock has shown a bearish trend in recent trading sessions, with the price declining from $56.07 to $55.31. The stock is currently testing support around the $55 level.
News Impact Recent news indicates mixed sentiment:
Price Forecast for Next Week Based on technical indicators and news sentiment:
Target Prices:
The stock is likely to trade sideways with a slight bearish bias next week. Key factors:
Trading Recommendation HOLD position for next week. Current price levels don't present a compelling entry point for new positions. Wait for clearer directional momentum before initiating new trades.
Price Targets:
The price of BHP is predicted to go up 2.18%, based on the high correlation periods with EFT. The similarity of these two price pattern on the periods is 94.49%.
BHP
EFT
Year
BHP Price Forecast($)
Potential Return(%)
2025
53.000
8.580
2026
65.000
32.250
2027
65.000
32.250
2028
70.000
42.420
2029
75.000
52.590
2030
75.000
52.590
BHP is a beneficiary of continued global economic growth and demand for the commodities it produces.
BHP's Jansen potash project gives it additional diversification, with potash being less correlated to the other commodities it produces.
BHP's iron ore assets are industry-leading. The company remains well placed to continue low-cost production and increase output with minimal expenditure and an efficiency focus.
Jefferies
2025-01-06
Price Target
$57 → $53
Upside
+9.23%
Jefferies
2024-10-04
Price Target
$72 → $68
Upside
+12.37%