re: rio pattern Morning Rondog,
I am under no illusions that RIO is in a downtrend as you mention with the rounding top pattern.
There is gaps to fill as low as 28.55, so eventually I wouldn't be surprised to see the price back at that level.
However, a stock does not fall immediately to that price. It has rallies, as can be witnessed by the channel I posted yesterday.
I am only interested in catching the quick bounce with ETO,s. Now this strategy is not for everyone, I am not about to recommend that RIO is a buy and hold. But for option players ther may be a chance to profit from a short term upswing.
Regards
Commy
targets, looks sick, page-13
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Last
$118.75 |
Change
-0.950(0.79%) |
Mkt cap ! $44.08B | |||
| Open | High | Low | Value | Volume |
| $116.91 | $119.27 | $116.22 | $220.9M | 1.871M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 230 | $118.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $118.85 | 235 | 1 |
View Market Depth
| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| RIO (ASX) Chart |