BHP Group's 15min chart: RSI Oversold, KDJ Golden Cross

BHP Group's 15-minute chart has recently triggered an oversold condition on the Relative Strength Index (RSI) and a Golden Cross on the Kinetick Diagnostics Index (KDJ). This suggests that the stock price has declined rapidly and is now below its fundamental support level, indicating a shift in momentum towards an upward trajectory. As a result, there is potential for the stock price to continue increasing.

BHP Group (LON: BHP) has seen a shift in analyst sentiment, with several major brokerages downgrading the mining giant in recent weeks. This comes despite the stock's recent rally and technical indicators suggesting a potential upward trajectory.

BMO Capital was the latest to pull back, downgrading BHP to Market Perform from Outperform while maintaining a 2,000p price target [1]. The firm cited the stock's proximity to its valuation ceiling and delays at the Jansen potash project as reasons for the downgrade. Berenberg took a more pessimistic view, downgrading BHP to Sell from Hold, noting concerns over rising capital expenditure and an expensive dividend [1]. Macquarie also downgraded BHP to Neutral from Outperform, highlighting cost blowouts at the Jansen Stage 1 project [1].

Despite these downgrades, BHP Group's 15-minute chart has recently triggered an oversold condition on the Relative Strength Index (RSI) and a Golden Cross on the Kinetick Diagnostics Index (KDJ). These indicators suggest that the stock price has declined rapidly and is now below its fundamental support level, indicating a shift in momentum towards an upward trajectory [2].

BHP Group's latest earnings release for the quarter ending December 31 showed a quarterly revenue of $25.18 billion and a net profit of $4.42 billion, compared to last year's $27.46 billion revenue and $927 million net profit [2]. While the company's financial performance has improved, analysts' concerns over project delays and rising costs continue to weigh on the stock.

Investors should closely monitor BHP Group's earnings and project updates, as well as any changes in analyst sentiment, to make informed decisions about their investments. The recent technical indicators suggest a potential upward trend, but the stock remains volatile due to ongoing concerns over project delays and rising costs.

References:
[1] https://www.asktraders.com/analysis/bhp-group-shares-why-analysts-are-turning-cautious/
[2] https://www.theglobeandmail.com/investing/markets/stocks/BHPLF/pressreleases/33695313/bhp-group-bhp-was-downgraded-to-a-hold-rating-at-bmo-capital/