RIO.AX pushes through previous session high

Technical Analysis Report for RIO.AX - May 17, 2018 [< 1 min read]
RIO.AX rallies 2.44% closing A$2.07 higher
RIO.AX closes higher for the 2nd day in a row
RIO.AX pushes through previous session high
RIO.AX rises to highest close since April 12, 2011
TQ Sentiment
Technical Forecast:

Moving higher for the 2nd day in a row, RIO.AX finished Thursday at 86.75 surging A$2.07 (2.44%). This is the biggest single day gain in over four weeks. Today's closing price of 86.75 marks the highest close since April 12, 2011. Closing above Wednesday's high at 84.90, the stock confirms its breakout through the previous session's high having traded A$2.19 above it intraday.

Daily chart for RIO.AX

Thursday's trading range was A$1.09 (1.27%), that's slightly above last trading month's daily average range of A$1.06. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.


The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

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Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Strong Up Move TQ Pro Members Only
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RIO.AX ends the day indecisive

May 24, 2018
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Find out what happened when Rio Tinto Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.


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