Higher Highs – Rio Tinto

I did the notations on this chart of Rio Tinto (RIO.AX) a few days ago.

That higher high of $128.55 is still something to watch for.

This is theorem and observation is valid for many asset prices amongst the current rally.

I’m watching for exhaustion, volume and whether ‘higher highs’ are made in order to assess any extension of this advance…..

but this stock (and others) are touching Overbought levels and there are ‘gaps’ lurking below.

January 31, 2023

by Rob Zdravevski

rob@karriasset.com.au