BHP has already corrected ~$4 for the third time in less than 6-months, at this stage, we expect BHP to trade in a $55–$59 range over the coming weeks, with MM remaining in “buy the dip” mode on the Big Australian. Note: BHP trades ex-dividend this morning for US73c (A$1.03) fully franked.
- We are looking for some consolidation by BHP in the short term – MM owns BHP in its Active Growth Portfolio and Active Income Portfolio.
MM is long and bullish BHP
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