BHP Billiton plc (BBL)’s Bullish Multiple Top Points to Lower Stock Risks

March 17, 2018 - By Stephen Andrade

The stock of BHP Billiton plc (BBL) shows a multiple tops pattern with $41.49 target or 3.00 % above today’s $40.28 share price. The 5 months chart pattern indicates low risk for the $107.70 billion company. It was reported on Mar, 17 by If the $41.49 price target is reached, the company will be worth $3.23 billion more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.25% or $0.1 during the last trading session, reaching $40.28. About 963,581 shares traded. BHP Billiton plc (NYSE:BBL) has risen 31.15% since March 17, 2017 and is uptrending. It has outperformed by 14.45% the S&P500.

BHP Billiton plc (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 has $38.0 highest and $3200 lowest target. $38’s average target is -5.66% below currents $40.28 stock price. BHP Billiton had 8 analyst reports since August 23, 2016 according to SRatingsIntel. Jefferies maintained BHP Billiton plc (NYSE:BBL) on Thursday, August 31 with “Hold” rating. Jefferies maintained the shares of BBL in report on Wednesday, August 23 with “Buy” rating. The firm has “Buy” rating given on Tuesday, August 23 by Jefferies. Jefferies maintained the shares of BBL in report on Thursday, August 17 with “Hold” rating. The stock has “Hold” rating by Jefferies on Wednesday, October 4. The stock of BHP Billiton plc (NYSE:BBL) has “Hold” rating given on Thursday, June 8 by Jefferies. The company was maintained on Monday, July 10 by Jefferies. The rating was maintained by Citigroup on Wednesday, April 12 with “Buy”.

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