Stock Chart Analysis RIO

Posted by downtowntrader | 4/14/2008 10:13:00 PM | 0 comments »

Stock Chart Analysis RIO

Vale (ADR) (Public, NYSE:RIO)

One of my favorite plays is finding stocks near all time highs that have pulled back a little. It's amazing that I'm finding any at all recently, but there have been plenty. RIO is one that is very close to all time highs, and is pulling back gently into moving average support. With the general markets becoming near term oversold, there is a chance we have a few up days ahead. A general rally could provide enough fuel for RIO to break out to new highs. The weekly chart is beautiful sight to behold, and it's usually a pretty good idea to buy long term strength on short term weakness.

Good Trading,


for more analysis, check out