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***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - [USER=20158]@debtfree[/USER] *****May 2024 - Following on from the April update for Rio Tinto (RIO) at the end of last month, the share price continued to tackle the prior resistance level of $132.50 established from the open of 29th January and managed to gap through to the upside on 20th May before settling back towards the prior support level at the end of the trading month. Of interest to long-term shareholders is that this also means that the shareprice is now trading below both the 10 and 30 day moving averages, with the 10 day moving average now curling downwards, which could pose weakness for the stock and place pressure on the support level. Watch and observe how the market reacts to this support level and look for a test of the prior support level should the support level of $126.57 not hold.[ATTACH=full]177902[/ATTACH]
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - [USER=20158]@debtfree[/USER] *****
May 2024 - Following on from the April update for Rio Tinto (RIO) at the end of last month, the share price continued to tackle the prior resistance level of $132.50 established from the open of 29th January and managed to gap through to the upside on 20th May before settling back towards the prior support level at the end of the trading month. Of interest to long-term shareholders is that this also means that the shareprice is now trading below both the 10 and 30 day moving averages, with the 10 day moving average now curling downwards, which could pose weakness for the stock and place pressure on the support level. Watch and observe how the market reacts to this support level and look for a test of the prior support level should the support level of $126.57 not hold.
[ATTACH=full]177902[/ATTACH]
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