RIO looks like it could be making a bottom.
The SP is sitting above the 200day moving average, last time it was above this for several days was in July 2011. Currently it is testing the 200day moving average with the sp holding above it for the last 4 sessions.
RIO is also sitting above the down trend line dating back to April 2011, has been above this line for several weeks.
Lately every time RIO drops it gets accumulated. $60 is the key, if it breaks that and breaks it convincingly then $70 is a real possibility in the short term.
The other important thing to note is that the MACD on the monthly is on the verge of crossing. A cross here on the monthly could trigger a multi month rally.
DYOR
RIO looks like it could be making a bottom.The SP is sitting...
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Last
$118.94 |
Change
1.320(1.12%) |
Mkt cap ! $44.28B | |||
| Open | High | Low | Value | Volume |
| $118.39 | $119.79 | $118.39 | $14.58M | 122.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3 | $118.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $118.96 | 34 | 5 |
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| Last trade - 11.22am 21/10/2024 (20 minute delay) ? |
| RIO (ASX) Chart |