Heavy short covering in FTSE:Rio and US:RTP.
One must remember short covering doesnt last only one day just to have price drop again.Rio is GOING UP.
This was once in a lifetime drop for Rio and cleaned many people out.It was $65 only last week.Imagine all the poor people who were screwed as the price fell and who lost heaps.Then think of those who had money left were too scared to reenter @$30.
The shorters know they wont get it back down again and are unwinding their shorts.
Rio will go to $41+ then $66 and then $93.
Even at $93 its still off 30% from highs which is the equiv of BHP @ $35 so imho Rio has huge upside.
They are slashing jobs/capex and have given foreward guidance whilst maintaining dividend.
Shorters are being burned quickly and as they turn from short to long this stock is going to rocket..
DYOR
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Heavy short covering in FTSE:Rio and US:RTP.One must remember...
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Last
$116.46 |
Change
-0.350(0.30%) |
Mkt cap ! $43.23B |
Open | High | Low | Value | Volume |
$117.00 | $118.08 | $116.46 | $165.6M | 1.414M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5136 | $116.46 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$116.49 | 1320 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5136 | 116.460 |
1 | 428 | 116.450 |
1 | 2403 | 116.430 |
2 | 1278 | 116.400 |
1 | 25 | 116.370 |
Price($) | Vol. | No. |
---|---|---|
116.570 | 142 | 1 |
116.710 | 112 | 1 |
116.750 | 7 | 1 |
116.840 | 200 | 1 |
117.170 | 189 | 4 |
Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
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