Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hello MM Team, I have heard several commentator say in the past: "Buy BHP under $40 and sell at $50". BHP is in a down trend since January 2024 and has been under $40 since March this year. In your opinion does this advice still holds? Best regards, John NSW
Hi John,
We’ve heard that mantra quoted a few times on Ausbiz over the years but like most trends it looks good until one day, just because something has worked in the past doesn’t mean it will in the future, in the case of BHP it largely comes down the price of iron ore and copper, plus potash will enter the mix over time.
Hence the simple answer to your question is no BUT we are bullish at the moment around $38.50, initially targeting the $42-44 area: MM owns BHP in its Active Growth and Active Income portfolios having recently topped up our exposure in the former around $37.
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