BLT

Ian56

Junior member
32 0
Watch Billiton. Bounced strongly today from near year lows. OBV looks positive. Stochastics just crossed. Still below 20 day MA.
Views please.

Regards,
Ian
 

Riz

Experienced member
1,266 5
Hi Ian,

I think it was last friday I read that SG Securities had a buy rating and 330p price target on BILLITON..

And you're right the chart looks positive..
 

Riz

Experienced member
1,266 5
also this news does explain the rise today..

LONDON, Dec 4 (Reuters) - Shares in mining and metals group Billiton (BILJ.J) climbed 5.7 percent in London on Monday, boosted by positive impressions from a recent trip by analysts to the firm's assets in south America.

By late afternoon the shares were up 12 pence to 240 pence on volume of 8.3 million shares.

"There's nothing much going on, apart from people returning from a trip down to south America to have a look around the assets there, and returning with some positive views," said one analyst who had been on the trip.

He said analysts had formed a positive impression of Billiton's south American assets which include extensive copper mines in Peru and Chile, but declined to give details.

Another analyst said the shares had been due a bounce after sliding from 278 pence since early November.

"It's not remarkable turnover, 20 million shares would be a good day. It's pretty thin and has been for a while so any views can move prices," the first analyst said.
 

Riz

Experienced member
1,266 5
Up today +13.5 to 256 as expected...I hope you're already in, Ian...
 
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