Today my computer screen had red ink all over it! Almost every share nosedived, with my rusted-on old favourite BHP taking one of its biggest nosedives in one day right down to $48.49.
After it had reached an intraday high of $53.72 on Tuesday before finally closing at $53.17, it dropped almost a dollar on Wednesday when it closed at $52.30, dropping another $1.60 on Thursday to $50.70, before the market put the boot in today, selling it down to a $48.49 close.
But not all is lost: Citigroup upgraded BHP from "neutral" to "buy" (I did buy a few more!), and my friends at Trading Central "detected a 'Bollinger Bands' chart pattern formed on BHP Group Ltd. This bullish signal indicates that the stock price may rise from the close of 48.49."
Let's hope they're right and BHP will soon be above $50 again when I will crack open a large bottle from Bollinger Special Cuvée Champagne.
