Recognia is flashing am Elliott Wave 3 extension for Rio Tinto, with a price target of $73.86. I'm skeptical that we'll get that high, because it's outside the current trend channel, which I expect to break after RIO reports earnings on August 1. However, I do think it's likely that there's upside ahead as we approach the half-year earnings date. RIO has a low P/E...
After a successful bump and run reversal, RIO has now confirmed a large inverse head and shoulders formation. At the moment we are re-testing the broken resistance that should now act as support, making it a low risk high reward trade set up.
Buy in now at 57.93 Stop loss at 55.50
First target $93
$RIO Long Term H&S formed on Monthly Chart
- Watch for breakout and close above ~$60.70 resistance level in coming days/weeks
Target - $75.00 by August
Unusual Bullish Options Activity
- $160M worth of near term call options traded today with March 15th / April 18th expirations (majority deep ITM). Will confirm positions tomorrow with updated OI...
Rio Tinto (RIO) is showing entry signal in buying, MACD, and CCI.
Supplier of iron oxide, bauxite for AL, titanium dioxide for paints, coatings, copper, diamonds, and uranium as large-cap mining stock.
Metal prices have been bottomed and starting to climb, along with domestic sourcing needs for steel and uranium will send this one
to $60. Currently $51.48 and...
This reinforces the AUS200 short trade as miners represent a large % of the XJO
You really need to look at the quarterly chart as there is a bearish pin bar, this does not necessarily mean a major sell off - but it does mean a short term pullback is likely and this pattern is in line with the macro time frame picture
RIO (one of my friends ask my view for this stock)
After a BAT pattern
Price already rally to the previous neck line
I expect a correction may happen
Pay attention to 29.80 level
That will be a good entry level to long
TP1: 42.61
TP2: 56.82
Wait until Wednesday latest if the price doesn't fall then buy. Using price action $30 shows bullish momentum supply and demand has been outlined. With weekly highs being touched price should lower, then jump up again. For now i would wait. If price does go towards and touches support at $27 mark i would definitely be buying this market
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RIO
