A Hedged Approach To Trading BHP Group (BBL)

The stock of BHP Group (NYSE:BBL) has been Upgraded to Hold from Sell by Deutsche Bank in its latest research note that was published on September 04. Liberum analysts have downgraded their rating of BBL stock from Hold to Sell in a separate flash note to investors on August 22. Analysts at Jefferies downgraded the stock to a Hold call from its previous Buy stance, in a research note that dated back to August 06.

BHP Group, which has current market capitalization of above $121 Billion, published its last quarter earnings on June 30, 2019.

BBL surged by $0.75 during the normal trading session on Thursday and reaching a high of $44.80 during the day while it closed the day at $44.50. The BHP stock had a high trading volume of 1.16 million shares on that day, which is high compared to the average daily volume of 1.13M shares. BBL has also gained 2.80% of its value over the past 7 days. However, the stock has declined by 9.05% in the 3 months of the year. Over the past six months meanwhile, it has lost 3.05% while it has added 11.47% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -14.21% from its 3 months high price. However, taking another look at BBL will indicate that it is trading +9.16% away from its 90-day low. Looking at the bigger picture, the BHP Group stock has dropped by -14.21% from its 52-week high while it has surged by +16.98% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 33.94%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 92.57%. Over the past 20 days, BHP’s Stochastic %K stood at 91.79% while its Stochastic %D was revealed to be 86.04%.