Trying to hear what's not being said
November 12, 2024 Leave a comment
The price action and ‘set-up’ for the stock prices of various Iron Ore companies isn’t attractive.
I’m watching a few signals before I become confident about the expected ugliness.
BHP and Fortescue may be the first to make the move lower.
If so, Rio Tinto’s ASX stock price could test A$93.00 initially and I’d become a giddy buyer at A$85.65.
November 12, 2024
rob@karriasset.com.au
May 1, 2023 Leave a comment
I’m looking for a further 17% decline in the price of Rio Tinto shares.
That’s no small beans, as such a move would reduce its market capitalisation an additional A$27 billion.
The red vertical line in the chart below is when I wrote my original note on January 31, 2023 which suggested lower price targets to look for.
Those going long around the recent $128 price level may have been deked into thinking new highs were pending.
Beyond some underlying thoughts that Iron ore prices were temporarily “full” around the $125 mark, my lack of conviction for the Rio Tinto’s share price is sympathetic with my view where I think broader commodity prices and the Australian Dollar are headed.
May 1, 2023
by Rob Zdravevski
rob@karriasset.com.au
January 31, 2023 Leave a comment
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
rob zdravevski's blog 