Nexvu Capital

Nexvu on Economics, Politics and the Markets

  • Enter your email address to follow this blog and receive notifications of new posts by email.

    Join 1,022 other followers

  • Nexvu on Twitter

    Error: Twitter did not respond. Please wait a few minutes and refresh this page.

  • Previous Posts

Equity Update: BHP

Posted by nexvucapital on May 7, 2013

Further to our note of April 8th, the monthly chart on BHP continues to build an Inverse Head and Shoulder bottoming pattern (putting a higher right shoulder in place). Should the price move through the upper Confirmation Line the potential target price can be calculated via a measurement of the distance from the upper Confirmation Line to the bottom of the Inverse Head (~$20 move). By applying this same amount upward from  the Confirmation Line we get to ~$100. This move would be a new high and would be the 5th wave in the Major 5 Wave pattern. Our view is that growth will continue to gain traction in the US and spread globally in 2013 (current pundit views on Global growth reflect similar consensus views on the state of the US economy during the first half of 2012…they were wrong).

BHP Monthly - May 7 2013

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: