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BHP Holds Stage 2 Uptrend, Watches 96.58 Pivot After Short Consolidation

Posted on by Eben@CANSLIM Research
BHP daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY — CANSLIM Research
Eben@CANSLIM Research's avatarEben@CANSLIM Research

BHP is trading at 91.99 in a Stage 2 advancing phase, holding above a rising 30-week moving average with the trend template passing 7 of 8 checks. The market focus is on a short two-week consolidation with a 6.4 percent depth and a pivot at 96.58, though the base is not yet fully formed and no VCP has developed. Overall sentiment is bullish, with an offensive setup in place and price within 4.8 percent of its 52-week high.

Technical Analysis

As of 2026-09-08 · Close $91.99

Stage Analysis

Stage 2 (Advancing) — Price holding above a rising 30-week MA — uptrend intact (30-week MA 6-week slope: 5.45%)

Detected Patterns — What the Market Is Watching

  • Consolidation (not yet a fully-formed base) — depth 6.4%, length 2 weeks, pivot $96.58

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