Rio Tinto Crosses Below its 10-day MA (RIO)
Today, shares of Rio Tinto (NYSE:RIO) have fallen below their 10-day MA of $32.37 on a volume of 1.3 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Rio Tinto has traded in a range of $21.89 to $47.37 and is now at $31.90, 46% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.
SmarTrend recommended that subscribers consider buying shares of Rio Tinto on June 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.60. Since that recommendation, shares of Rio Tinto have risen 7.9%. We continue to monitor RIO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Rio Tinto