Buy Signal Triggered For BHP Shares

This story features BHP GROUP LIMITED. For more info SHARE ANALYSIS: BHP

The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

By Michael Gable 

The backing away from high tariff levels between China and the US in the past few days has seen the S&P500 Index push above its 200-day moving average, which was a target that we had over the past few weeks.

Now that the market has gapped above that line, we should see renewed buying pressure to keep markets elevated. There will be dips along the way, but pushing above this line of resistance is a major positive for now.

Today, we offer a technical view on BHP Group ((BHP))

From late 2024 to early 2025, BHP had a support level just above $38.

It broke under that in April before bouncing back and finding resistance at that old support line. Instead of being sold off heavily near resistance, BHP spent most of the past couple of weeks consolidating under that blue line, which is a bullish sign.

Yesterday it started to edge out of this consolidation and back above the blue line. This is a new buy trigger and BHP should recover well from here. Initial stops can be considered near $37.

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

Bachelor of Engineering, Hons. (University of Sydney) 
Bachelor of Commerce (University of Sydney) 
Diploma of Mortgage Lending (Finsia) 
Diploma of Financial Services [Financial Planning] (Finsia) 
Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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