Rio Tinto 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 stock price ended at $66.01 on Tuesday, after losing 0.602%.
(Updated on Jul 02, 2024)
The Rio Tinto stock price fell by -0.602% on the last day (Tuesday, 2nd Jul 2024) from $66.41 to $66.01. During the last trading day the stock fluctuated 1.10% from a day low at $65.30 to a day high of $66.02. The price has risen in 7 of the last 10 days and is up by 0.03% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -267 thousand shares and in total, 2 million shares were bought and sold for approximately $112.77 million.
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 $65.87 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Rio Tinto stock with a 90% probability to be traded between $66.77 and $75.11 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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RIO Signals & Forecast
There are mixed signals in the stock today. The Rio Tinto 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 $66.28 and $68.76. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.289%. 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).
Support, Risk & Stop-loss for Rio Tinto stock
Rio Tinto finds support from accumulated volume at $65.99 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 $0.720 between high and low, or 1.10%. For the last week the stock has had daily average volatility of 0.99%.
Our recommended stop-loss: $61.93 (-6.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (RIO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Rio Tinto Plc to open at $65.78, and during the day (based on 14 day Average True Range), to move between $65.01 and $67.01, which gives a possible trading interval of +/-$1.00 (+/-1.51%) up or down from last closing price. If Rio Tinto Plc takes out the full calculated possible swing range there will be an estimated 3.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $65.99 (0.03%) than the resistance at $66.08 (0.11%), 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 Plc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Rio Tinto stock to perform well in the short-term period.
Current score: 1.980 Buy Candidate Unchanged
Predicted Opening Price for Rio Tinto Plc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $65.78 ( 0.353%) | $66.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RIO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 66.50 | 0.737% |
| R2 | 66.22 | 0.321% |
| R1 | 66.05 | 0.0632% |
| Price | 66.01 | |
| S1 | 65.50 | -0.770% |
| S2 | 65.33 | -1.03% |
| S3 | 65.06 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 71.91 | 8.94% |
| R2 | 66.51 | 0.757% |
| R1 | 66.08 | 0.106% |
| Price | 66.01 | |
| S1 | 65.99 | -0.0303% |
| S2 | 64.60 | -2.14% |
| S3 | 63.00 | -4.56% |
RIO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 07, 2024 | Apr 18, 2024 | $2.58 | 3.86% |
| 2 | Jul 26, 2023 | Aug 10, 2023 | Sep 21, 2023 | $1.77 | 2.78% |
| 3 | Feb 27, 2023 | Mar 09, 2023 | Apr 20, 2023 | $2.25 | 3.34% |
| 4 | Jul 28, 2022 | Aug 11, 2022 | Sep 22, 2022 | $2.67 | 4.82% |
| 5 | Feb 23, 2022 | Mar 10, 2022 | Apr 21, 2022 | $4.79 | 6.40% |
FAQ
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