XAO Indicator

This blog is intended to be read in conjunction with the XAO Indicator which can be found at http://www.asxindicator.blogspot.com/

I am not a financial adviser so you should not take any part of this blog as being financial advice. Observing and interpreting charts is a hobby and so is this blog. The information in this blog is just my opinion, it may not reflect reality. Stock market investing is risky - you can lose all, or potentially more than all of your money given certain market conditions. Not only can lose a lot of money buying shares, you can also lose a lot of potential profits by selling shares at the wrong time. So please do not buy or sell shares because of information in this blog. Whether you buy or sell shares is your decision as is the decision when to buy and sell. Do not risk any money you cannot afford to lose. Do not risk any money if you do not fully know and understand what you are doing.

Tuesday, February 22, 2011

40% on RSI is important support

For over 2 years, the 38-42% line on a 12 day RSI has provided support for the RIO share price on no less than about 12 occasions. Only twice has that zone failed to support the price. On one of those occasions, the price fell another $8 ($73 to $65 in Jan 2010). The other time it fell another $17 ($76 to $59 in May 2010).



Click to enlarge.
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