#Gold #SP500 Wikipedia remains great fun, when trawling for background stories relating to major international players. It doesn’t matter what field they’re in but as soon as you discover a company has its roots in the late Victorian era, the odds favour a colourful history. The tale of Rio Tinto doesn’t disappoint, though it’s easy to forget their history embodies something almost in the company DNA.
Rio Tinto looks after Rio Tinto first and foremost and while they’ve left a bunch of governments crying at the alter while LSE:RIO has focussed on their own long term success, obviously the benefit of not needing stand for an election every few years. It’s easy to take the moral high ground and criticise the company behaviour but, for instance, if reviewing their 2020 destruction of the 46,000 year old aboriginal site in Australia, the media tend gloss over the salient detail they’d been given permission to destroy it in 2013 by the Australian government. Conversely, one would have thought the corporate body would recognise the PR potentials of relocating and recreating the site to an area where it could be viewed and appreciated.
For a quick read and discovery of which governments and organisations Rio Tinto have fallen out with, a visit to their Wikipedia page is recommended.
As for their share price, it’s currently reflecting the general confusion being exhibited since the pandemic eased with the price bouncing around in a useless fashion, one which fails to give any sort of clue to direction. Share price behaviour this year hasn’t managed to clear the issue, the price probably needing above 5,500p before giving the first clue of something helpful actually happening. We can calculate a movement such as this as being capable of promoting recovery to an initial 5,762p with our longer term secondary, if bettered, at 6,180p. There’s even an added bonus as, should Rio Tinto managed to actually close a session above this initial target of 5,762p, it’s going to be viewed as entering a cycle which promises an eventual visit to 6,709p. One thing which really surprises us came, when drawing a line from the previous historic high of 2008. Any visit to our 6,709 ambition rather exactly shows as challenging this long term trend!
As always, we can dust down a converse scenario for the company.
Movement now below 4,850 risks embracing the prospect of reversal to an initial 4,684p with our secondary, should such a level break, calculating down at 4,100p and an almost certain rebound, due to the proximity of the Red uptrend since 2016. Visually, it becomes pretty certain many traders shall regard such a line as sacrosanct, though it’s an argument without any real foundation.
For now, we suspect Rio Tinto shall discover an excuse to sidle upwards… And more importantly, we managed to get to the end of the report without mentioning the boat which featured in the Duran Duran video for “Rio” is moored outside, here in Argyll. Alas, it lacks scantily clad models dancing on its deck as it’s used as a Sail Training vessel.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:05:30PM | BRENT | 8883.8 | |||||||||
| 10:09:42PM | GOLD | 1938.01 | 1936 | 1931 | 1924 | 1942 | 1946 | 1948 | 1952 | 1940 | |
| 10:12:34PM | FTSE | 7448.5 | ‘cess | ||||||||
| 10:15:20PM | STOX50 | 4277.3 | Shambles | ||||||||
| 10:17:13PM | GERMANY | 15822.9 | |||||||||
| 10:19:17PM | US500 | 4513.2 | 4509 | 4504 | 4497 | 4517 | 4526 | 4533 | 4541 | 4511 | |
| 10:21:32PM | DOW | 34785 | Shambles | ||||||||
| 10:24:07PM | NASDAQ | 15497.6 | |||||||||
| 10:27:48PM | JAPAN | 32896 |
4/09/2023 FTSE Closed at 7452 points. Change of -0.16%. Total value traded through LSE was: £ 3,107,267,145 a change of -28.59%
1/09/2023 FTSE Closed at 7464 points. Change of 0.34%. Total value traded through LSE was: £ 4,351,126,417 a change of -43.85%
31/08/2023 FTSE Closed at 7439 points. Change of -0.45%. Total value traded through LSE was: £ 7,748,715,745 a change of 104.69%
30/08/2023 FTSE Closed at 7473 points. Change of 0.11%. Total value traded through LSE was: £ 3,785,593,396 a change of -59.43%
29/08/2023 FTSE Closed at 7465 points. Change of 1.73%. Total value traded through LSE was: £ 9,331,622,622 a change of 194.32%
25/08/2023 FTSE Closed at 7338 points. Change of 0.07%. Total value traded through LSE was: £ 3,170,549,348 a change of -23.12%
24/08/2023 FTSE Closed at 7333 points. Change of -100%. Total value traded through LSE was: £ 4,124,022,746 a change of 0%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:AAL Anglo American** **LSE:BP. BP PLC** **LSE:CBX Cellular Goods** **LSE:CNA Centrica** **LSE:GENL Genel** **LSE:SCLP Scancell** **LSE:TLW Tullow** **
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Updated charts published on : Anglo American, Cellular Goods, Centrica, Genel, Scancell, Tullow,
LSE:AAL Anglo American Close Mid-Price: 2135 Percentage Change: -0.05% Day High: 2191 Day Low: 2129.5
This is behaving a little strangely. It needs above 2200 to suggest immine ……..
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View Previous Anglo American & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 501.7 Percentage Change: + 0.18% Day High: 506.7 Day Low: 501.9
Further movement against BP PLC ABOVE 506.7 should improve acceleration t ……..
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View Previous BP PLC & Big Picture ***
LSE:CBX Cellular Goods Close Mid-Price: 0.55 Percentage Change: -4.35% Day High: 0.6 Day Low: 0.55
Continued weakness against CBX taking the price below 0.55 calculates as ……..
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View Previous Cellular Goods & Big Picture ***
LSE:CNA Centrica Close Mid-Price: 153 Percentage Change: -0.36% Day High: 154.3 Day Low: 152.2
In the event of Centrica enjoying further trades beyond 154.3, the share ……..
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View Previous Centrica & Big Picture ***
LSE:GENL Genel. Close Mid-Price: 88.5 Percentage Change: + 6.12% Day High: 89 Day Low: 85
All Genel needs are mid-price trades ABOVE 89 to improve acceleration tow ……..
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View Previous Genel & Big Picture ***
LSE:SCLP Scancell Close Mid-Price: 8.15 Percentage Change: -18.50% Day High: 10.25 Day Low: 8.1
In the event Scancell experiences weakness below 8.1 it calculates with a ……..
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View Previous Scancell & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 38.1 Percentage Change: + 2.31% Day High: 38.52 Day Low: 36.1
In the event of Tullow enjoying further trades beyond 38.52, the share sh ……..
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View Previous Tullow & Big Picture ***