RIO 0.99% $118.88 rio tinto limited

newbie quetion on rio...for technical chartist...

  1. 152 Posts.
    Been reading a couple of books lately...Is today's action considered as a "Double Top" reversal pattern? (The other top occurred around early January this year) RSI is also showing that it is overbrought. Candlestick pattern showing a "evening star" reversal pattern...I wanted to short the stock...but that would means that I might be going againts the trend? As the share is still trading way higher than its long term exponential moving average, i.e. 30, 35, 40 days, which still indicates that it is on an uptrend...How would you interpret RIO's action today? Is it a temporary dip in a long term uptrend? How would you then trade it based on your analysis? Would you short it? Or wait for it to go down a little bit further and go long with it? Your opinion would be very much appreciated...Thankyou...
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Mkt cap ! $44.13B
Open High Low Value Volume
$118.50 $119.43 $117.50 $262.9M 2.261M

Buyers (Bids)

No. Vol. Price($)
1 1286 $118.84

Sellers (Offers)

Price($) Vol. No.
$118.89 1000 1
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Last trade - 16.10pm 16/04/2021 (20 minute delay) ?
1.170 ( 0.69 %)
Open High Low Volume
$118.34 $119.43 $117.63 56334
Last updated 15.59pm 16/04/2021 (live) ?
RIO (ASX) Chart
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