Following these proceedings, Berenberg upgraded its Rio Tinto plc ADR [RIO] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who increased its forecast for the stock in late July from “a Hold” to “a Buy”. Berenberg also remained covering RIO and has decreased its forecast on June 27, 2024 with a “Hold” recommendation from previously “Buy” rating. Citigroup revised its rating on May 20, 2024. It rated RIO as “a Neutral” which previously was an “a Buy”.
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Price Performance Review of RIO
On Tuesday, Rio Tinto plc ADR [NYSE:RIO] saw its stock fall -1.82% to $66.47. Over the last five days, the stock has lost -0.29%. Rio Tinto plc ADR shares have fallen nearly -10.73% since the year began. Nevertheless, the stocks have risen 6.56% over the past one year. While a 52-week high of $75.09 was reached on 01/02/24, a 52-week low of $59.35 was recorded on 09/06/24. SMA at 50 days reached $64.50, while 200 days put it at $66.55.
Levels Of Support And Resistance For RIO Stock
The 24-hour chart illustrates a support level at 66.23, which if violated will result in even more drops to 66.00. On the upside, there is a resistance level at 66.76. A further resistance level may holdings at 67.06. The Relative Strength Index (RSI) on the 14-day chart is 48.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.83, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.50%. Stochastics %K at 27.25% indicates the stock is a holding.
How much short interest is there in Rio Tinto plc ADR?
A steep rise in short interest was recorded in Rio Tinto plc ADR stocks on 2024-09-30, growing by 0.46 million shares to a total of 9.37 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 8.91 million shares. There was a rise of 4.87%, which implies that there is a positive sentiment for the stock.
