SaxoTV

BHP Billiton looking good in a tough market: Neighbour

339 views
March 31, 2016 bhp, bhp billiton, buy, commodities, commodity, equities, equity, joe neighbour, market, markets, miner, mining, saxo, saxo bank, saxo tv tradingfloor.com, saxobank.com, saxotrader, saxotradergo, saxotv, share, shares, stock, stocks, stop, target, targets, trade view, trader, traders, traders tale, trading, tradingfloor, tradingfloor.com, tradingfloorcom, upside
Equity markets are tough at present with little pullback for the bulls to take advantage of, says Joe Neighbour. But commodity stocks and especially BHP Billiton have caught his eye and may offer attractive opportunities, Neighbour says.

According to Joe, the charts suggest that the stock could see more upside, highlighting that the bottom pattern looks great on the daily chart. He believes that we could continue to see a cyclical rally here.

Joe is looking to buy around 785p with a stop at 730p. His near term target is 900p and beyond that he believes 1100p is a possibility.