bought into rio today, looks cheap on pe basis, page-10

hi all.
its great some HC members posting there thoughts on rio, keep up the great work guys.

weekend round up.

monthly chart. monthly is almost in a sell after hitting strong fib resistance.

weekly chart. weekly is in a sell at present, next possible fib support is at 79.31 under that there is mayor support at 73.42 and 72.62. will be hard for the sp to break that area.

daily chart. the daily is also in a sell, there is now a gap above fridays high, with rio adr finding some support on friday in the us that gap could be closed on monday.
will be interesting if we can find a swing low this week.
could be at the weekly fib 79.31 but could be at daily fib support of 77.57 and 77.38.
sp is close to daily oversold.

yes a look at the pe would tell us rio is cheap but i feel its market sentiment that will drive the sp short term.

huninni. i fell your 83 target is on the cards. there is strong fib resistance just above that area, we just need the daily to go into a buy. 83 can still be hit even with the weekly in a sell.

just my 2 cents worth.

have a good one.

582