Could BHP Billiton Limited Change Direction After Reaching 52-Week High?

 Could BHP Billiton Limited Change Direction After Reaching 52 Week High?

The stock of BHP Billiton Limited (ASX:BHP) hit a new 52-week high and has $28.65 target or 27.00% above today’s $22.56 share price. The 5 months bullish chart indicates low risk for the $112.38B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $28.65 price target is reached, the company will be worth $30.34 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 3.18% or $0.74 on November 9, hitting $22.56. About 16.02M shares traded hands or 95.37% up from the average. BHP Billiton Limited (ASX:BHP) has risen 25.89% since April 13, 2016 and is uptrending. It has outperformed by 21.11% the S&P500.

More recent BHP Billiton Limited (ASX:BHP) news were published by: Wsj.com which released: “BHP Billiton Chairman Jac Nasser to Step Down Next Year” on October 20, 2016. Also Fool.com.Au published the news titled: “Why I think you should avoid BHP Billiton Limited shares” on October 16, 2016. Fool.com.Au‘s news article titled: “3 reasons why the BHP Billiton Limited share price is jumping today” with publication date: October 11, 2016 was also an interesting one.

BHP Billiton Limited is a global resources company. The company has a market cap of $112.38 billion. The Firm is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. It currently has negative earnings. The Company’s divisions include Petroleum, Copper, Iron Ore and Coal.

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