In the case of Rio Tinto plc, the RSI reading has hit 29.6 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 47.9, the RSI of Spot Gold is at 11.3, and the RSI of Spot Silver is presently 16.4. A bullish investor could look at RIO's 29.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), RIO's low point in its 52 week range is $58.27 per share, with $75.0891 as the 52 week high point — that compares with a last trade of $63.57. Rio Tinto plc shares are currently trading off about 1.2% on the day.
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