re: rio pattern Morning Rondog,
I am under no illusions that RIO is in a downtrend as you mention with the rounding top pattern.
There is gaps to fill as low as 28.55, so eventually I wouldn't be surprised to see the price back at that level.
However, a stock does not fall immediately to that price. It has rallies, as can be witnessed by the channel I posted yesterday.
I am only interested in catching the quick bounce with ETO,s. Now this strategy is not for everyone, I am not about to recommend that RIO is a buy and hold. But for option players ther may be a chance to profit from a short term upswing.
Regards
Commy
targets, looks sick, page-13
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Last
$118.29 |
Change
-0.390(0.33%) |
Mkt cap ! $43.91B | |||
| Open | High | Low | Value | Volume |
| $118.36 | $119.54 | $117.65 | $162.1M | 1.370M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 640 | $118.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $118.30 | 2422 | 2 |
View Market Depth
| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| RIO (ASX) Chart |