Rio Tinto (RIO)

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Rio Tinto (RIO): Signals

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TECHNICAL ANALYSIS SUMMARY

Rio Tinto (RIO.AX)


Indicator:

WOODIE PIVOT POINT


Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading position.


Rio Tinto (ASX:RIO) current pivot point (Woodie) is:
$94.58.

The current resistance levels are:
(R1) $95.66
(R2) $96.02

The current support levels are:
(S1) $94.22
(S2) $93.14



One of the key differences in calculating Woodies Pivot Point to other pivot points is that the current sessions open price is used in the PP formula with the previous sessions high and low.

Calculation: Woodie Pivot Point:
1) R2 = PP + High – Low;
2) R1 = (2 X PP) – Low;
3) PP = (H + L + 2C) / 4;
4) S1 = (2 X PP) – High;
5) S2 = PP – High + Low – Closing Price – High – Low;


PROFILE: Rio Tinto (RIO.AX)


Stock Exchange: ASX
Company: Rio Tinto
Ticker Codes: | RIO.AX | ASX:RIO |

About Rio Tinto (ASX:RIO):

Rio Tinto Limited engages in finding, mining, and processing mineral resources primarily in Australia and North America. It offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, thermal and metallurgical coal, uranium, silver, molybdenum, sulphuric acid, rhenium, lead carbonate, selenium, ductile iron, steel billets, metal powders, and zircon. The company also operates in Asia, Europe, Africa, and South America. Rio Tinto Limited was incorporated in 1959 and is headquartered in Melbourne, Australia.

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