IO and most commodities languishing a bit. Taking RIO sentiment down with it. RIO chart looking like a good setup for a swing trade. A bounce off the 50 Day EMA and previous higher high. Lets see...
I have a similar story with FMG. Having lived through the highs and downright collapse of Anaconda. I was very conservative in my FMG sizing. FMG at $3.80 (later half of the 2018 FY) was not a bargain. I was waiting for $2.80 and the chart would have looked like the juiciest inverse H&S if it materialised. Definitely would have justified the giant move since. The buyback kept it of the $2.80 lows. 2018 Seems like a long time ago now...
Tell you what though. I did not make that same mistake when FMG pulled back to $14 (from $26.50) 2021.When an opportunity presents itself you really just have to take it.
RIO Technical Analysis, page-16
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Last
$115.91 |
Change
3.100(2.75%) |
Mkt cap ! $43.02B | |||
| Open | High | Low | Value | Volume |
| $115.01 | $116.42 | $114.93 | $184.0M | 1.577M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 34 | $115.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $116.20 | 200 | 1 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |