Rio Tinto Group Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Rio Tinto Group stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The Rio Tinto Group stock price gained 0.293% on the last trading day (Friday, 28th Jun 2024), rising from 61.39€ to 61.57€. During the last trading day the stock fluctuated 1.09% from a day low at 61.47€ to a day high of 62.14€. The price has risen in 6 of the last 10 days but is still down by -0.79% for this period. Volume fell on the last day by -6 thousand shares and in total, 29 thousand shares were bought and sold for approximately 1.77€ million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 61.41€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Rio Tinto Group stock with a 90% probability to be traded between 62.30€ and 69.71€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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RIO1.F Signals & Forecast
The Rio Tinto Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 62.00€ and 63.87€. A break-up above any of these levels will issue buy signals. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.293%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Rio Tinto Group stock
Rio Tinto Group finds support from accumulated volume at 60.68€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.670€ between high and low, or 1.09%. For the last week the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: 58.00€ (-5.79%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (RIO1.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Rio Tinto Group to open at 61.73€, and during the day (based on 14 day Average True Range), to move between 60.54€ and 62.60€, which gives a possible trading interval of +/-1.03€ (+/-1.67%) up or down from last closing price. If Rio Tinto Group takes out the full calculated possible swing range there will be an estimated 3.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 60.68€ (1.45%) than the resistance at 63.10€ (2.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rio Tinto Group stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.475 Buy Candidate Upgraded
Predicted Opening Price for Rio Tinto Group of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 61.73€ ( 0.254%) | 61.57€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RIO1.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 62.40 | 1.34% |
| R2 | 62.14 | 0.93% |
| R1 | 61.98 | 0.670% |
| Price | 61.57 | |
| S1 | 61.47 | -0.161% |
| S2 | 61.31 | -0.418% |
| S3 | 61.06 | -0.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.24 | 2.71% |
| R2 | 63.21 | 2.66% |
| R1 | 63.10 | 2.48% |
| Price | 61.57 | |
| S1 | 60.68 | -1.45% |
| S2 | 60.33 | -2.01% |
| S3 | 59.59 | -3.22% |
RIO1 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Apr 18, 2024 | 2.39€ | 0% |
| 2 | Aug 10, 2023 | Aug 10, 2023 | Aug 10, 2023 | 1.38€ | 0% |
| 3 | Mar 09, 2023 | Mar 09, 2023 | Mar 09, 2023 | 1.85€ | 0% |
| 4 | Jul 27, 2022 | Aug 11, 2022 | Sep 22, 2022 | 2.22€ | 0% |
| 5 | Mar 10, 2022 | Mar 10, 2022 | Mar 10, 2022 | 0.456€ | 0% |
FAQ
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