Ore prices were around 140ish in April and May this year and RIO was 67ish.
Today ore and RIO prices exactly mirror those. At this point, I believe RIO risk:reward is very poor to step in now.
I'd rather wait if spot ore prices are holding 135 level.
On technical side, 6-wk straight up is also very overbought and vulnerable for retracement.
potential bottom, page-24
Add RIO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$115.87 |
Change
-0.040(0.03%) |
Mkt cap ! $43.01B | |||
| Open | High | Low | Value | Volume |
| $117.00 | $117.55 | $115.65 | $140.9M | 1.208M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12000 | $115.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $116.08 | 195 | 4 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |