Guess Work,
I hope you didn't buy those Puts on RIO. The stock was up 4% in New York and broke very heavy resistance that has held it back for three years. This is a very significant bullish move and must not be ignored when also considered in light of:
RIO in Australia breaking through its downtrend chanel from the beginning of 2003;
RIO in the UK breaking out of its downtrend reistance from February 2002.
RIO is very clearly a LONG at the moment with next resistance at about $35. Monday RIO will probably hit around $33 and I suspect that this run could take it close to $34 before we see a pullback / correction.
PeterV - I like you have traded RIO a lot in the past and have become very frustrated when RIO is not doing what it "should" do. The one thing I have come to accept out of all this is that it is never a case of I am right and others are wrong - rather that the market is always right and just hop on board for the ride. Good luck with your positions - you have a lot of hard work in front of you from here.
Regards,
Jaysee
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Last
$115.87 |
Change
-0.040(0.03%) |
Mkt cap ! $43.01B |
Open | High | Low | Value | Volume |
$117.00 | $117.55 | $115.65 | $140.9M | 1.208M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12000 | $115.82 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$116.08 | 195 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 12000 | 115.820 |
1 | 4267 | 115.810 |
1 | 15 | 115.800 |
2 | 4325 | 115.700 |
1 | 2417 | 115.590 |
Price($) | Vol. | No. |
---|---|---|
116.080 | 195 | 4 |
116.340 | 359 | 1 |
116.590 | 2417 | 2 |
116.680 | 2417 | 1 |
116.780 | 2417 | 1 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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RIO (ASX) Chart |