It would have been good a few months ago. Whether it is still good to enter now depends on your time horizon and objective. If you look short term you might be able to pick up 50c or $1 per share max. If you look really long term, then it's a good company in a good sector. But if you look medium term, it looks topish.
Highest monthly close: Nov 07 at $114.5
Lowest monthly close: Dec 08 at $29.97
61.8% fib retracement from $29.97 will bring it back to $82.21. With today's close it's already retraced 60%. There's not much to be made medium term. I agree with ntro007 some will be taking profit at this level.
But if you buy it and put it in the drawer for a few years then entering now still seems good although not as good as a few months ago.
It would have been good a few months ago. Whether it is still...
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Last
$112.17 |
Change
0.240(0.21%) |
Mkt cap ! $41.85B | |||
| Open | High | Low | Value | Volume |
| $112.07 | $113.01 | $112.02 | $135.3M | 1.204M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3337 | $112.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $112.25 | 1592 | 2 |
View Market Depth
| Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
| RIO (ASX) Chart |