Had a bit of a look at rio and noticed a pattern.
It seems every time rio continues it's upwards trend from a retracement, it has a minimum of two gaps at the resumption of the trend.
I have also noticed that rio only ever drops down on the retracements to fill all but one of the gaps ie. the lower gap (the initial gap up) on the resumption of the trend remains unfilled.
These are demonstrated by the red lines on the chart.
So using this history as a guide does it make sense that the gap at 33-90 will remain unfilled and that rio will move higher from here?
I have no position but think RIO will push higher from here.
going up??
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Last
$114.45 |
Change
0.460(0.40%) |
Mkt cap ! $42.48B | |||
| Open | High | Low | Value | Volume |
| $113.72 | $114.51 | $112.97 | $119.2M | 1.045M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 89 | $114.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $114.51 | 579 | 1 |
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| Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |