Rio Tinto Ltd Technical Analysis | Rio Tinto Ltd Trading: 2023-05-26 | IFCM UK
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Rio Tinto Ltd Technical Analysis - Rio Tinto Ltd Trading: 2023-05-26

Rio Tinto Ltd Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 104.6

Sell Stop

Above 110.9

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2371
RSI Neutral
MACD Neutral
Donchian Channel Neutral
Fractals Neutral
MA(200) Sell
Parabolic SAR Sell

Rio Tinto Ltd Chart Analysis

Rio Tinto Ltd Chart Analysis

Rio Tinto Ltd Technical Analysis

The technical analysis of the RIO TINTO stock price chart in daily timeframe shows #A-RIO, Daily has broken down the 200-day moving average MA(200) which is rising still. We believe the bearish momentum will resume after the price breaches below the lower bound of Donchian Channel at 104.6. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the fractal high at 110.9. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (110.9) without reaching the order (104.6), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Stocks - Rio Tinto Ltd

Rio Tinto stock retreating resumed after news US Forest Service has paused timeline for Rio Tinto Arizona copper mine. Will the Rio Tinto stock price reverse its retreating?

Last Friday the US Forest Service told a federal court it is not sure when it could approve a land swap allowing Rio Tinto Plc to develop the Resolution Copper mine in Arizona. The development was a surprising boost for several Native American groups opposing the project. Uncertainty about a mine development timeline is bearish for a mining company stock. Rio Tinto said it would continue to try to talk with tribes and believes there is significant local support for the mine. However, representatives for the San Carlos Apache tribe have vowed that if they lose, they will appeal the ruling to the US Supreme Court.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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