RECOMMENDATION SELL
TARGET 1825
The Major trend of RIO TINTO PLC it is showing strength for selling. If it breaks the support level then one can initiate selling position in the stock.
Support level of 1867 Target of 1825 with the stop loss of 1910 .
CHART FORMATION:-
Stock is trading in a range and trading near the trend line. Breaking the support line will...
Context
Press to death, until everybody is short, but all in a range like, ugly looking pattern.
Swings
price at lower extreme of last major, unfinished down swing (grey)
Price Action
every time price reaches a (false) low (where support is expected & stopps are sitting behind), somebody pushing it just a little below, and then pull the string...
On the weekly chart, Rio Tinto Pic has again approached the lower bound of a multi-year trend at USD 42. Given that the gauge has repeatedly tested this support level, it may fail to break through this mark again. If this is the case, the price will start moving toward the upper bound of the USD 52-56 range. The first target is the resistance level of the falling...
RIO expected to open at 44.22 for a Retest Gap. Watch out for nearby support/resistance. Learn to trade this strategy for free at www.RealLifeTrading.com
This week, Rio Tinto Plc tested the lower bound of the trend at USD 41, with a bullish engulfing candlestick pattern shaping up at the end of the week. This is a strong signal pointing to the beginning of movement toward the upper bound of the trend at USD 56-58. Notably, there are no divergences in the RSI, and downward movement may occur, which may be used for...
Rio Tinto plc (NYSE:RIO) is one of the world's leading mining companies. The company is involved in the mining and production of aluminum products, copper, gold, silver, diamonds, salt, titanium iron, metal powders, zircon, coking coal, uranium, iron ore and more. Today, the stock is trading lower by $1.27 to $50.62 a share. Short term day traders can watch for...
