Use this graph to draw trend lines for BHP Billiton Limited. You can use it to identify possible trend reversals for BHP Billiton as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual BHP Billiton price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.
BHP Billiton Best Fit Change Line
The following chart estimates an ordinary least squares regression model for BHP Billiton Limited applied against its price change over selected period. The best fit line has a slop of 0.13 %
which may imply that BHP Billiton Limited will maintain its good market sentiment and make money for investors. It has 44 observation points and regression sum of squers of 30.17 which is sum of squared deviations of the predicted BHP Billiton price change against its avarage change.
|Price Growth (%) |
|Prediction Trend || ||BHP Billiton || |
BHP Billiton has a best fit line with a correlation coefficient of 0.6. and coefficient of determination of 0.36. Note, that book value of the company was currently as 25.16.