Rio Tinto PLC Crossing the 200 day (NYSE:RIO)

by Josh Rio Tinto PLC ADS ($RIO) is resolving the descending broadening wedge pattern, crossing above the 200 day moving average today. The 200 day is a well respected longer term resistance line. A confirming bounce off the the 200 day will further confirm today’s move above the long term resistance.

Shares are trading at $49.16 on a volume of 2,934,980 shares here at the noon hour. This puts RIO on track to trade a twice the average volume today.

52 Week Range $39.14-$60.45 Market Cap 70,097,015,506 Average Volume 3,253,313 Dividend Yield 3.55% Institutional Ownership 6.20% Insider Ownership: 0.00% Percentage of Float Short 0.90% Beta 1.80

Rio Tinto PLC ADS Rio Tinto PLC is an international mining group that engaged on finding, mining and processing the Earth’s mineral resources. Its main products are Bauxite, Alumina, Copper, Gold, Molybdenum, Silver, Nickel, Diamonds and Rutile.

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