RIO has strong correlation with CRB index and copper futures. Both recovered well from early massive selloff last night - holding strong supports. And, I don't think Chinese will hike the rate over the wkend after 50bp RRR hike.
As you siad, given all the bad news and commodities selloff, RIO is finding support at mid 79 and if thing are calm next wk, it will bounce hard. Afterall, ASX doesn't have many tier1 miners for us to trade.
bought into rio today, looks cheap on pe basis, page-18
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Last
$119.63 |
Change
-1.040(0.86%) |
Mkt cap ! $44.40B | |||
| Open | High | Low | Value | Volume |
| $121.00 | $121.27 | $119.15 | $121.4M | 1.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $119.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $119.69 | 5000 | 1 |
View Market Depth
| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |