RIO Moves Below 200-Day SMA Post FY24 Earnings: How to Play the Stock?
Portfolio Pulse from
Rio Tinto's shares have dropped after reporting declines in FY24 revenues and earnings, moving below the 200-day SMA. Investors are advised to reassess their stance on the stock.
February 26, 2025 | 6:30 pm
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Rio Tinto's stock has fallen below the 200-day SMA following a disappointing FY24 earnings report, which showed declines in both revenues and earnings. This could signal a bearish trend for the stock.
The decline in revenues and earnings for FY24 has led to a drop in Rio Tinto's stock price, pushing it below the 200-day SMA. This technical indicator is often seen as a bearish signal, suggesting potential further declines.
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IMPORTANCE 80
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