Shares of RIO are up over 1.5%, and have reached a two-month high at $79.40 as the mining giant announced solid growth in shipments across their mineral lines.
The company announced that shipments of Iron Ore from their Pilbara mines rose by 5% along with increased shipments of copper and bauxite.
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Our ALGO engine triggered a buy signal in RIO on March 29th at $72.30.
And while the internal momentum indicators look positive, investors should be aware of a potential “triple-top” pattern in the $82.50 price area.
Rio Tinto
