Look for Shares of Rio Tinto to Potentially Pullback after Yesterday's 1.96% Rise
Rio Tinto (NYSE:RIO) traded in a range yesterday that spanned from a low of $32.27 to a high of $32.72. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $32.37 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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.
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 $32.46, which is 48% 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%.
Keywords: rebounders Rio Tinto