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5 Stock Charts You Need to See

BHP Billiton

We're seeing a very similar setup in shares of BHP Billiton PLC (BBL) right now. That's not hugely surprising -- BBL and COP are two large-cap commodity-driven stocks, so their price charts are all but guaranteed to correlate highly with one another. Just like with COP, we'll want to see a bounce off support for the buy signal to trigger in BBL.

>>4 Big Stocks to Buy in February -- and One to Sell

More recently, the 50-day moving average has acted as a good proxy for trend line support. That simplifies things for traders looking to enter this stock on a bounce; setting a trade alert (through your broker) when shares close below the 50-day will provide an early warning that this setup is failing.

I'd recommend keeping a protective stop just below that level.
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BBL $24.76 -10.00%
COP $45.23 -3.50%
GOOG $690.15 -1.20%
GGP $28.81 0.63%
SYY $48.48 -0.27%


Chart of I:DJI
DOW 17,628.01 -122.90 -0.69%
S&P 500 2,053.90 -9.47 -0.46%
NASDAQ 4,736.2860 -26.9380 -0.57%

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