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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Rio Tinto    RIO   GB0007188757

RIO TINTO (RIO)
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Anticipation of a bearish reversal

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02/19/2016 | 10:13am

Indicators argue for a technical correction after the last bullish movement recorded in past sessions.

Graphically, the stock went through a period of rebound in recent sessions towards the GBp 1950 short-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the GBp 1735 support area (corresponding to the 20-day moving average) which will be a bearish objective.

The graphical configuration argues to establish a short trade at current prices. The end of the technical rebound, the consolidation phase and overbought situation: Rio Tinto has all the characteristics for short selling.
The first objective will be fixed near the GBp 1735 short term support and by extension the GBp 1577 area. This strategy should be protected by a stop loss above GBp 1951.


Etienne Veber
© Zonebourse.com 2016
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Financials ($)
Sales 2017 39 721 M
EBIT 2017 13 192 M
Net income 2017 7 599 M
Debt 2017 5 252 M
Yield 2017 5,71%
P/E ratio 2017 9,98
P/E ratio 2018 11,54
EV / Sales 2017 2,34x
EV / Sales 2018 2,52x
Capitalization 87 631 M
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Rio Tinto Technical Analysis Chart | RIO | GB0007188757 | 4-Traders
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Rio Tinto Technical Analysis Chart | RIO | GB0007188757 | 4-Traders