RIO TINTO ORD 10P - Daily - Technical analysis published on 10/04/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
11%
78%
11%
My opinion
Bearish under 4,120.0 GBX
My targets
3,973.5 GBX (-1.01%)
3,761.5 GBX (-6.29%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on RIO TINTO ORD 10P as long as the price remains well below 4,120.0 GBX. The sellers” bearish objective is set at 3,973.5 GBX. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 3,761.5 GBX. In case of crossing, the next objective would be the support located at 3,643.0 GBX. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
7.9
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The RIO TINTO ORD 10P rating is 4,014.0 GBX. On the day, this instrument gained +0.54% and was between 3,963.0 GBX and 4,018.0 GBX. This implies that the price is at +1.29% from its lowest and at -0.10% from its highest.3,963.0
4,018.0
4,014.0
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by RIO TINTO ORD 10P:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of RIO TINTO ORD 10P indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,643.0 | 3,761.5 | 3,973.5 | 4,014.0 | 4,120.0 | 4,425.1 | 4,636.2 |
| Change (%) | -9.24% | -6.29% | -1.01% | - | +2.64% | +10.24% | +15.50% |
| Change | -371.0 | -252.5 | -40.5 | - | +106.0 | +411.1 | +622.2 |
| Level | Minor | Minor | Intermediate | - | Minor | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,868.8 | 3,901.2 | 3,946.8 | 3,979.2 | 4,024.8 | 4,057.2 | 4,102.8 |
| Camarilla | 3,971.1 | 3,978.2 | 3,985.4 | 3,992.5 | 3,999.7 | 4,006.8 | 4,014.0 |
| Woodie | 3,875.5 | 3,904.5 | 3,953.5 | 3,982.5 | 4,031.5 | 4,060.5 | 4,109.5 |
| Fibonacci | 3,901.2 | 3,931.0 | 3,949.4 | 3,979.2 | 4,009.0 | 4,027.4 | 4,057.2 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,912.0 | 3,986.5 | 4,118.0 | 4,192.5 | 4,324.0 | 4,398.5 | 4,530.0 |
| Camarilla | 4,192.9 | 4,211.7 | 4,230.6 | 4,249.5 | 4,268.4 | 4,287.3 | 4,306.2 |
| Woodie | 3,940.5 | 4,000.8 | 4,146.5 | 4,206.8 | 4,352.5 | 4,412.8 | 4,558.5 |
| Fibonacci | 3,986.5 | 4,065.2 | 4,113.8 | 4,192.5 | 4,271.2 | 4,319.8 | 4,398.5 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,660.3 | 3,860.7 | 4,034.8 | 4,235.2 | 4,409.3 | 4,609.7 | 4,783.8 |
| Camarilla | 4,106.0 | 4,140.3 | 4,174.7 | 4,209.0 | 4,243.3 | 4,277.7 | 4,312.0 |
| Woodie | 3,647.3 | 3,854.1 | 4,021.8 | 4,228.6 | 4,396.3 | 4,603.1 | 4,770.8 |
| Fibonacci | 3,860.7 | 4,003.7 | 4,092.1 | 4,235.2 | 4,378.2 | 4,466.6 | 4,609.7 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 36.60 | |
| MACD (12,26,9): | -38.8000 | |
| Directional Movement: | -20.4 | |
| AROON (14): | -92.9 | |
| DEMA (21): | 4,120.5 | |
| Parabolic SAR (0,02-0,02-0,2): | 4,209.1 | |
| Elder Ray (13): | -147.8 | |
| Super Trend (3,10): | 4,249.1 | |
| Zig ZAG (10): | 4,011.5 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 11.40 | |
| TEMA (21): | 4,102.0 | |
| Williams %R (14): | -78.90 | |
| Chande Momentum Oscillator (20): | -251.0 | |
| Repulse (5,40,3): | -1.8000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 8.90 |
| MA7: | 4,119.9 | |
| MA20: | 4,212.0 | |
| MA50: | 4,167.6 | |
| MA100: | 4,354.4 | |
| MAexp7: | 4,092.0 | |
| MAexp20: | 4,158.1 | |
| MAexp50: | 4,213.4 | |
| MAexp100: | 4,236.3 | |
| Price / MA7: | -2.57% | |
| Price / MA20: | -4.70% | |
| Price / MA50: | -3.69% | |
| Price / MA100: | -7.82% | |
| Price / MAexp7: | -1.91% | |
| Price / MAexp20: | -3.47% | |
| Price / MAexp50: | -4.73% | |
| Price / MAexp100: | -5.25% |
This member declared not having a position on this financial instrument or a related financial instrument.
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