This Foreboding Sign Looms Over Rio Tinto's Chart
Portfolio Pulse from Benzinga Insights
A 'death cross' has formed on Rio Tinto's (NYSE:RIO) chart, indicating a potential bearish trend for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, signaling a possible change in the long-term trend.
May 24, 2023 | 2:57 pm
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Rio Tinto's chart shows a 'death cross', indicating a potential bearish trend for the stock. This may lead investors to consider short positions.
The 'death cross' is a technical indicator that occurs when the 50-day moving average moves below the 200-day moving average. This is generally considered a bearish signal, suggesting that the stock's long-term trend may be changing. As a result, investors may consider short positions based on this signal and other factors such as price levels and company fundamentals.
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