RIO.AX pushes through previous session high


Technical Analysis Report for RIO.AX - May 17, 2018 [< 1 min read]
Highlights
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:
Overview

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
Volatility

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.

Trend

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

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Strong Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

RIO.AX ends the day indecisive

May 24, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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.

Signup

Stocks Top Movers

NATGAS 2.9580.028 0.96%
NDX 6,953.6360.01 0.87%
TBOND 142.4381.094 0.77%
DXY 93.9000.405 0.43%
SPX 2,733.298.85 0.32%
CRUDE 71.83-0.30 -0.42%
GBPUSD 1.3347-0.0083 -0.62%
EURUSD 1.1697-0.0081 -0.69%
USDJPY 110.08-0.82 -0.74%
NKY 22,437.01-252.73 -1.11%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.