Advertisement
Canada markets open in 6 hours 50 minutes

  • S&P/TSX

    21,871.96
    +64.59 (+0.30%)
     

  • S&P 500

    5,010.60
    +43.37 (+0.87%)
     

  • DOW

    38,239.98
    +253.58 (+0.67%)
     

  • CAD/USD

    0.7299
    -0.0002 (-0.03%)
     

  • CRUDE OIL

    83.02
    +0.17 (+0.21%)
     

  • Bitcoin CAD

    91,219.44
    +384.86 (+0.42%)
     

  • CMC Crypto 200

    1,402.64
    -12.12 (-0.86%)
     

  • GOLD FUTURES

    2,316.60
    -29.80 (-1.27%)
     

  • RUSSELL 2000

    1,967.47
    +19.82 (+1.02%)
     

  • 10-Yr Bond

    4.6230
    +0.0080 (+0.17%)
     

  • NASDAQ futures

    17,322.75
    -27.25 (-0.16%)
     

  • VOLATILITY

    16.94
    -1.77 (-9.46%)
     

  • FTSE

    8,023.87
    +128.02 (+1.62%)
     

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • CAD/EUR

    0.6853
    +0.0003 (+0.04%)
     

Moving Average Crossover Alert: BHP Billiton

Zacks Equity Research

BHP Billiton PLC BBL could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for BBL broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 1.7% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for BBL stock.

If that wasn’t enough, BBL isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.

Consider that in the last 30 days, 1 estimate has been reduced, while none has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.

ADVERTISEMENT

That is why we currently have a Zacks Rank #4 (Sell) on this stock and are looking for it to underperform in the weeks ahead. So, either avoid this stock or consider jumping ship until the estimates and technical factors turn around for BBL. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.

See 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
BHP Billiton PLC (BBL) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research