Score 7.7 (out of 10): BHP GROUP LTD-SPON ADR sets up for +11.2% rally in 3 months

77

What’s Going On Here?

Brixton Metals recently announced that BHP Group has agreed to invest at least $13.4M to explore Thorn copper-gold project in Northern British Columbia.

Why Now?

BHP GROUP LTD-SPON ADR has triggered a new high volatility signal (3 month). During similar occasions, BHP GROUP LTD-SPON ADR shares had a median return of +11.2%, over the following 3 months – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for BHP GROUP LTD-SPON ADR received a high score of 7.7 (out of 10). This insight was generated on 2022-November-4 with last price of 53.04.

What’s This Asset About?

BHP GROUP LTD- SPON ADR is in the Diversified Minerals business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: BHP AU.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 59 (+11.2%) has been reached. Based on BHP GROUP LTD-SPON ADR’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 49.84 (last price at 53.04), which is equivalent to a -6% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

0.7% (May-2022), -3.1% (March- 2022), 22.6% (November-2021), -9.8% (September-2021), 41.9% (May-2020), 15.7% (March- 2020), 23.9% (December-2018), 6.8% (March-2018), 2.3% (March-2016), 47.1% (January-2016).

Historical Chart:

Summary:

NameBHP GROUP
ViewUp
Star (1 to 10)7.8
Target+16.4%
Time3 months
Hit Rate80%

Leave a Reply