earning release : Full Year Result (Feb 9, 2012 Thursday)
current technical : Heavily Overbought
earning expectation : in-line earnings is expected to trigger "sell-the-news" trades. only much-better-than-expected earnings can lift the share price into the new trading zone 65-75 range.
To Short
If $65 resistance holds.Target $57-55
Stop-loss $68+
To Long
If $65 resistance is decidely broken following blow-out earningsTarget $72-74
Stop-loss $62-
Chart
RIO (ADR) Daily Chart |
Good luck!