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Bullish Moving Average Cross by Rio Tinto (RIO)

By David Diaz

Today, shares of Rio Tinto (NYSE:RIO) have crossed bullishly above their 10-day moving average of $30.73 on a volume of 1.1 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Rio Tinto share prices have been bracketed by a low of $21.89 and a high of $47.37 and are now at $30.89, 41% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.

SmarTrend is tracking the current trend status for Rio Tinto and will alert subscribers who have RIO in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses Rio Tinto

Ticker(s): RIO