Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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big opening gap on weekly chart here. we got a similar one in may last year to 40 quid and the shares run up to 50 quid plus before correcting. does the same happen again? im not sure. i have halved my position to underweight here. i believe in the demand theme for copper in the longrun which is why i have retained a positioned but copper itself is now a bit stretched but also the ft100 is at channel resistance (7170) which it touched today and backed away from. its possible we see some kind of retracement here. it might be 50 points, it could be a couple of hundred points. you just dont know. but its quite probably that rio will follow the market lower if that happens.
Sigma....I do not see a head and shoulders formation here but a recent double top at 64 and 65 which is a resistance level. If £65 breaks on the current move then I see £70 as a strong possibility.
I might consider selling, if it hits £70, but I honestly think it could end up in the £75-£85 range, if the commodities super cycle continues to take hold.
RIO did well to overcome the continued selling,
which lead me to bail out way too early,
in the earlier stages of the latest rise
The SP pushed on nicely and has hit my original target at the SP 6117 - 6332 GAP.
But an exit with a smaller profit is still a positive gain, so can't really complain.
What next for the SP direction?
Can any one else see the head and shoulders pattern that is forming?
https://www.investopedia.com/terms/h/head-shoulders.asp
I am long on Rio and even if the price went down, as long as they keep paying the dividends I am in for the long haul!
Well done PHOENIXRISING but the fact it has gone up 263% in 6 years doesn't mean it will go up in the future. It had actually fallen 70% in the previous 7 years. It was higher in 2008 than it is now so it shows how fortunes can wain.
OWLS I have held RIO since 2015 and am currently up 263% and with a large dividend coming next Thursday I won't be selling anytime soon.
I have also sold after holding for a year and making a very nice 57% profit. The positive momentum seems to have stopped.
I didn't like the look of the continued selling pressure on RIO this morning,
so took advantage of today's spike and exited early with a profit.
Looks like tomorrow’s open is going to be interesting ADR has been flying since our Thursday close
Last three years I've ploughed the divis (and more) back into more Rios, most pleasingly last April when the price was briefly back down in the £30s, so I've now got over 20% more shares than I had back then. I see no reason not to put this April's £2.90 straight back in, especially if the price stays in the £50s.
RIO, BHP, and EVR all appear to have broken out of their descending channels today.
Take your pick !
Real break outs, or over-reaction to the Suez blockage ?
https://www.aljazeera.com/economy/2021/3/26/egypt-races-to-dislodge-massive-ship-blocking-suez-canal-live
I bought RIO today.
SP had broken out of descending channel.
RSI had improved, up from 34 to 42.
6.2% yield at SP 5500.
Targeting the GAP at SP 6117 - 6332.
Always DYOR.
The situation is also similar with BHP at the moment.
From the TA chart,
it looks like RIO has been in a nice ascending SP channel since March 2020.
SP broke out top of channel at early Jan 21,
but retraced to the centre of channel late Jan 21.
Broke out of the top of the channel again late Feb 21
for ex-divi date,
but is now retracing in a tight smaller descending channel towards the bottom level of the larger ascending channel
and circa 5100 SP, at Fib 61.8 support level.
1 day TA Fib retrace Oct (low) - Feb (high).
RSI is still falling, currently at 34.
Waiting for RSI/SP bottom to establish and bounce back into the main ascending channel
as positive buy signal before trade entry.
The current SP ex-divi retrace has left a nice GAP at SP 6117 - 6332 to be filled,
which is within the larger ascending channel.
Always DYOR.
personally if it was me with a 57/58 average, i wouldnt do anything here. i tend to wait for a bigger move away from my entry unless there is some major news which warrants adding closer to my entry point, something i feel will provide a lasting change in trend. otherwise i would sit on my hands and let things play out. if it drifts to 51/52 support, add there as long as the story stays the same. but if it moves higher and breaks the 64 high, consider adding on the next pullback from there if you still believe the story has legs.
U_R
I agree hard to call just at the moment but if it goes down I’m looking at 52 circa 20th March where the trend line converges with the sept high. I will average down if it gets there but currently holding as at my limit for this stock at the moment averaged 58 .
Liberium seems to have a history of recommending 'sell' and then not being right. Seems at odds with other broker views. Should we just ignore their rating?
I'm in the world of averaging down right now. Last purchase at 5700. Considering more at 5600 tomorrow if it gets there.
its reacting reasoanbly well to the price downgrade from liberum today. a finish at around 57 would leave a bullish daily candle and would possibly mark the pullback low. a weaker finish may mean support by 51/52 will need to be visited. amongst those supports is a trendline from march lows, which youd expect to hold if the commodity trade is to remain intact.
What’s the view about averaging up now?