Rio Tinto stock price bias bearish after Arizona mine delay news
Technical Analysis Summary Rio Tinto Ltd: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Neutral | |
| Donchian Channel | Neutral | |
| Fractals | Neutral | |
| MA(200) | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the RIO TINTO stock price chart in daily timeframe shows #A-RIO, Daily has broken down the 200-day moving average MA(200) which is rising still. We believe the bearish momentum will resume after the price breaches below the lower bound of Donchian Channel at 104.6. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the fractal high at 110.9. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (110.9) without reaching the order (104.6), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Rio Tinto stock retreating resumed after news US Forest Service has paused timeline for Rio Tinto Arizona copper mine. Will the Rio Tinto stock price reverse its retreating?
Last Friday the US Forest Service told a federal court it is not sure when it could approve a land swap allowing Rio Tinto Plc to develop the Resolution Copper mine in Arizona. The development was a surprising boost for several Native American groups opposing the project. Uncertainty about a mine development timeline is bearish for a mining company stock. Rio Tinto said it would continue to try to talk with tribes and believes there is significant local support for the mine. However, representatives for the San Carlos Apache tribe have vowed that if they lose, they will appeal the ruling to the US Supreme Court.