Trading idea for Rio Tinto (LSE)

#RIO

The overall trend is upward. The stock is trading in a corrective (downward) price channel. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy the pair when an ascending pattern 1-2-3 is formed, where wave 1 breaks through the upper limit of the descending price channel.

Stop Loss under the local minimum.

Target levels: 64.16; 67.60.