Ivory_Wolf

Potential breakout for RIO past previous resistance

Long
Ivory_Wolf Updated   
ASX:RIO   RIO TINTO LIMITED
Detected in the latest scan for the week (detailed commentary and full scan results available in the signature below), RIO represents a potential bullish opportunity with respect to a possible breakout should momentum continue and newer highs be made past the current position. As described in the analyses of the week, the materials sector has performed fairly well (relative to other sectors) in the Australian market alongside the energy sector, which adds further impetus to this potential trade.
Order cancelled:
Failure of potential breakout falling beneath 10 day MA's with other indicators turning downwards - consider short as per video discussion if remaining below open of $114.10 from 14-Sep, the day before the gap-up (remove from watchlist)

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