RIO TINTO PLC - Daily - Technical analysis published on 06/28/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 60.30 USD
My targets
62.78 USD (+1.34%)
76.63 USD (+23.70%)
My analysis
The bullish trend is currently very strong on RIO TINTO PLC. As long as the price remains above the support at 60.30 USD, you could try to benefit from the boom. The first bullish objective is located at 62.78 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 76.63 USD as an objective. Crossing it would then enable buyers to target 119.59 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
RIO TINTO PLC rating 61.95 USD. The price registered an increase of +0.41% on the session and was traded between 61.74 USD and 62.42 USD over the period. The price is currently at +0.34% from its lowest and -0.75% from its highest.61.74
62.42
61.95
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by RIO TINTO PLC:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of RIO TINTO PLC indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Near resistance of channel
Type : Bearish
Timeframe : Daily
Near resistance of triangle
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 52.21 | 57.94 | 60.30 | 61.95 | 62.78 | 76.63 | 119.59 |
| Change (%) | -15.72% | -6.47% | -2.66% | - | +1.34% | +23.70% | +93.04% |
| Change | -9.74 | -4.01 | -1.65 | - | +0.83 | +14.68 | +57.64 |
| Level | Intermediate | Major | Major | - | Intermediate | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.73 | 61.10 | 61.40 | 61.77 | 62.07 | 62.44 | 62.74 |
| Camarilla | 61.52 | 61.58 | 61.64 | 61.70 | 61.76 | 61.82 | 61.88 |
| Woodie | 60.69 | 61.08 | 61.37 | 61.75 | 62.03 | 62.42 | 62.71 |
| Fibonacci | 61.10 | 61.36 | 61.51 | 61.77 | 62.03 | 62.18 | 62.44 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.86 | 57.57 | 58.92 | 60.63 | 61.98 | 63.69 | 65.04 |
| Camarilla | 59.43 | 59.71 | 59.99 | 60.27 | 60.55 | 60.83 | 61.11 |
| Woodie | 55.68 | 57.48 | 58.74 | 60.54 | 61.80 | 63.60 | 64.86 |
| Fibonacci | 57.57 | 58.74 | 59.46 | 60.63 | 61.80 | 62.52 | 63.69 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 60.18 | |
| MACD (12,26,9): | 0.6200 | |
| Directional Movement: | 13.09 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 61.15 | |
| Parabolic SAR (0,02-0,02-0,2): | 59.38 | |
| Elder Ray (13): | 1.32 | |
| Super Trend (3,10): | 58.79 | |
| Zig ZAG (10): | 61.95 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 81.92 | |
| TEMA (21): | 61.51 | |
| Williams %R (14): | -12.07 | |
| Chande Momentum Oscillator (20): | 1.68 | |
| Repulse (5,40,3): | -1.1800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 7.94 |
| MA7: | 60.88 | |
| MA20: | 60.03 | |
| MA50: | 59.49 | |
| MA100: | 57.96 | |
| MAexp7: | 61.18 | |
| MAexp20: | 60.42 | |
| MAexp50: | 59.43 | |
| MAexp100: | 57.35 | |
| Price / MA7: | +1.76% | |
| Price / MA20: | +3.20% | |
| Price / MA50: | +4.14% | |
| Price / MA100: | +6.88% | |
| Price / MAexp7: | +1.26% | |
| Price / MAexp20: | +2.53% | |
| Price / MAexp50: | +4.24% | |
| Price / MAexp100: | +8.02% |
This member declared not having a position on this financial instrument or a related financial instrument.
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