Rio Tinto Crosses Below its 10-day MA (RIO)
Today, shares of Rio Tinto (NYSE:RIO) have crossed bearishly below their 10-day moving average of $33.30 on a volume of 2.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Rio Tinto have traded between a low of $21.89 and a high of $47.37 and are now at $31.47, which is 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.3%.
SmarTrend recommended that subscribers consider buying shares of Rio Tinto on April 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.66. Since that recommendation, shares of Rio Tinto have risen 5.8%. 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