RIO Trade Update

• Feb 9 Earnings disappointed Investors and Traders therefore the trade was to SHORT.
• RIO has been trending down even before the result. But from the result date, it has made 5% unrealised profit so far.
• Money Flow and MACD both confirm trend reversal.
• Tension between Greece and its creditors has been rising fast and markets are spooked of disorderly Greece default.
• Profit taking should happen around $55. That would make 8% return unleveraged. With 1:3 leverage, return would be 24% easily.

Good Luck!

RIO ADR Daily Chart