Rio Tinto Bullish Moving Average Crossover Alert (RIO)
Rio Tinto (NYSE:RIO) shares have crossed bullishly above their 10-day moving average of $28.71 on a volume of 1.4 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 $29.12, 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of Rio Tinto on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $30.83. Since that call, shares of Rio Tinto have fallen 7.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Rio Tinto