One other comment.Ordinarily I would suggest a 40% gap down...

One other comment.

Ordinarily I would suggest a 40% gap down would be a very good buying opportunity as you would expect significant buying pressure would come in and attempt to close the gap within a short space of time. Now if this does in fact occur, then maybe today simply just places a bottom for RIO.

However, what may be important is that RIO had that massive 20% gap up jump at the top of their chart following the initial BHP offer announcement. Now that gap ended up taking 2 months to fill (and for the first month price ran further from the gap). So, if RIO were to repeat that type of price movement now it could give another month for BHP to catch up and replicate RIO and allow XAO/XJO to lock in their lows towards Dec month-end. Then RIO (and BHP, XAO, XJO etc) could rally back from then and RIO might end up filling their gap around late Jan/Feb.