The stock of BHP Billiton Limited (ADR) (NYSE:BHP) gapped up by $0.27 today and has $36.41 target or 45.00% above today’s $25.11 share price. The 6 months technical chart setup indicates low risk for the $64.96B company. The gap was reported on Mar, 2 by Barchart.com. If the $36.41 price target is reached, the company will be worth $29.23 billion more. Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock is up 7.03% or $1.65 after the news, hitting $25.11 per share. About 4.56 million shares traded hands. BHP Billiton Limited (ADR) (NYSE:BHP) has declined 35.41% since July 27, 2015 and is downtrending. It has underperformed by 31.09% the S&P500.
Out of 4 analysts covering BHP Billiton Limited (ADR) (NYSE:BHP), 1 rate it “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. BHP Billiton Limited (ADR) was the topic in 26 analyst reports since July 22, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “BHP Billiton is a leader in the global natural resources industry. The Group has high-value and industry-leading positions in aluminium, metallurgical coal, thermal coal, copper, ferro-alloys, iron ore and titanium minerals and also has substantial interests in oil, gas, nickel, diamonds and silver.”
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