Thanks for that analysis JaySee,
I can assure you I have no intention of going long. This is the clearest downtrend of any of the stocks I follow.
However I'm hoping for it to run a bit higher before going short.
Whether it can add the full London increase and the imputed AUD increase on Monday I'm not sure since I suspect most of the big players still discount the fall in he AUD.
However we can only hope. That would be a win/win situation. PeterV gets his win on calls and I get cheaper puts.
I wouldn't be surprised at your 2290 ultimately as I have fiddled about with a combined AUD matrix and P&F trendline and I've arrived at 2380ish, assuming an AUD at 70c (which most forex experts see as inevitable so it may not happen).
rio short term part 2, page-3
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Last
$111.93 |
Change
1.460(1.32%) |
Mkt cap ! $41.55B | |||
| Open | High | Low | Value | Volume |
| $109.70 | $112.20 | $108.94 | $217.4M | 1.958M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5 | $111.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $111.99 | 50 | 1 |
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| Last trade - 16.10pm 21/08/2024 (20 minute delay) ? |
| RIO (ASX) Chart |