Rio Tinto Limited (ASX:RIO) Trading Outlook
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
By the way, prices are vulnerable to a correction towards 66.66.
The projected upper bound is: 71.78.
The projected lower bound is: 66.57.
The projected closing price is: 69.18.
RIO TINTO FPO closed down -0.060 at 69.060. Volume was 11% below average (neutral) and Bollinger Bands were 6% wider than normal.
Open High Low Close Volume
68.600 69.310 68.390 69.060 1,855,165
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 69.43 67.19 63.82
Volatility: 29 25 31
Volume: 2,055,388 1,993,741 2,320,003
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
RIO TINTO FPO is currently 8.2% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of RIO.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on RIO.AX and have had this outlook for the last 4 periods.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 43.4516. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 53.53. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 107 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -17. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 13 period(s) ago.