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

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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 40 676 M
EBIT 2017 13 900 M
Net income 2017 7 889 M
Debt 2017 4 656 M
Yield 2017 5,06%
P/E ratio 2017 11,06
P/E ratio 2018 12,13
EV / Sales 2017 2,58x
EV / Sales 2018 2,69x
Capitalization 100 B
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Rio Tinto Technical Analysis Chart | RIO | GB0007188757 | 4-Traders
Duration : Period : Week
Rio Tinto Technical Analysis Chart | RIO | GB0007188757 | 4-Traders