Bullish potential detected for RIO

Entry conditions:
(i) higher share price for along with swing up of indicators such as DMI/RSI.

Depending on risk tolerance, the stop loss for the trade would be:
(i) below the recent swing low of 14th May (i.e. $118.63), or
(ii) a close below the 200 day moving average (currently $116.88), or
(iii) a close below the 50 day moving average (currently $115.66).

Trade active

UPDATE (week ending 16-May): Trade activated on 14th May with further opportunity to enter the trade the following day (15th May) as the share price respected the former support/resistance line from April 2023 (i.e.: $119.63).

3 days ago

Note

UPDATE (week ending 23-May): A fairly ordinary week of trading for RIO this week, with the share price action respecting the former support/resistance line from April 2023 (i.e.: $119.63) to the downside. The share price ended up the week testing the 200 day MA (i.e.: $116.89), closing at exactly $117.00.

Ivory_Wolf

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Ivory_Wolf

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