A Reversal for BHP Billiton plc (ADR) (BBL) Is Near. The Formed Bullish Double Top

November 22, 2017 - By Michael Collier

The chart of BHP Billiton plc (ADR) (BBL) shows a double top with $38.41 target or 3.00 % above today’s $37.29 share price. The 9 months chart pattern indicates low risk for the $106.15B company. It was reported on Nov, 22 by Finviz.com. If the $38.41 price target is reached, the company will be worth $3.18 billion more. Double tops are rare but powerful chart patterns.

About 532,494 shares traded. BHP Billiton plc (ADR) (NYSE:BBL) has risen 31.15% since November 22, 2016 and is uptrending. It has outperformed by 14.45% the S&P500.

BHP Billiton plc (ADR) (NYSE:BBL) Ratings Coverage

Among 2 analysts covering BHP Billiton (NYSE:BBL), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. BHP Billiton had 8 analyst reports since August 23, 2016 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, April 12 by Citigroup. The stock of BHP Billiton plc (ADR) (NYSE:BBL) has “Hold” rating given on Thursday, August 17 by Jefferies. The firm earned “Buy” rating on Wednesday, August 23 by Jefferies. The firm earned “Hold” rating on Wednesday, October 4 by Jefferies. The firm earned “Hold” rating on Monday, July 10 by Jefferies. Jefferies upgraded BHP Billiton plc (ADR) (NYSE:BBL) on Tuesday, August 23 to “Buy” rating. The stock has “Hold” rating by Jefferies on Thursday, August 31. Jefferies downgraded the shares of BBL in report on Thursday, June 8 to “Hold” rating.

More recent BHP Billiton plc (ADR) (NYSE:BBL) news were published by: Seekingalpha.com which released: “BHP Billiton: High And Secure Dividends” on August 22, 2017. Also Benzinga.com published the news titled: “Investors Can Buy Shares Of BHP Billiton Plc Or BHP Billiton Ltd.: What Is The …” on August 24, 2016. Gurufocus.com‘s news article titled: “Elliott Management Sells Alcoa, Exits LogMeIn, Nord Anglia Education” with publication date: November 21, 2017 was also an interesting one.

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