RIO.AX pushes through previous session high
Rio Tinto Ltd (RIO.AX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (RIO.AX as at May 17, 2018):
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.