We recently reduced our position in BHP from 9% to 6% as the Big Australian knocked on the door of its resistance/sell area for the 4th time post-Covid. This is undoubtedly a great company but if commodity prices struggle under the weight of a global recession this stock is likely to follow in the downdraft.
- We may consider increasing our position back up to 8% into weakness.
MM is long and bullish BHP medium term
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