New sell signal · trading not recommended
Rio Tinto slips 0.5% in a 5th straight losing week as a Sell signal fires with little push
Our view last week
A 4th straight losing week for Rio Tinto stock: the 1.8% drop comes with sellers dominating the weekly bar and a distribution phase underway, price action that no technical analysis can ignore. Price closed below the first stop level (SL1) flagged in last week's card (7119.65 area): for anyone following that level the trade is closed. The close and the Inversion Point, in the 7160 area, have already crossed with no change of sign declared: one to watch in the coming sessions.
This week's summary
4 lower highs on the daily chart, from the 7810 area to the 7280 area, and a 20-week average that kept a lid on the price: Rio Tinto stock closes a 5th straight losing week, down 0.5%. The crossing of the Inversion Point we flagged 7 days ago has turned into a new Sell signal. It starts with little fuel, though: signal strength is 2 out of 100, a decline losing steam, and price still sits above its 50-week average. For swing trading, this is a week to watch.
IQS Phase
57
ordinary
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#80 / 89
New eu-uk stocks
Trade P&L %
+0.00%
from signal to date, no stop loss
Rio Tinto (RIO) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 80th among the 89 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV6
Sector regimeweak phase
Performanceweekly -0.36% · monthly -4.97%
RIO belongs to the european sector (reference ETF EXV6). The sector is classified weak phase according to our weekly reading.
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