RY 139.89 0.8943% TD 76.9 1.2242% SHOP 86.16 -18.5248% CNR 172.89 0.5818% ENB 51.15 1.1269% CP 112.14 0.5199% BMO 127.56 0.9816% TRI 229.43 0.1528% CNQ 105.96 1.0105% BN 60.44 0.683% ATD 75.02 0.4015% CSU 3820.47 1.7341% BNS 65.64 1.4685% CM 66.73 1.3364% SU 53.67 0.4304% TRP 52.0 1.069% NGT 57.07 0.3693% WCN 227.19 0.0528% MFC 33.6 0.9919% BCE 46.16 0.5445%

Stocks under $1 Report

S&P/TSX Venture Composite Edged Lower, One TSXV-Listed Stock to Consider at the Current Levels–RIO

Jan 26, 2024

RIO
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (CA$)

Company Overview: Rio2 Ltd. (TSXV: RIO) is a Canada-based mining company with a focus on development and mining operations. The Company is focused on its Fenix Gold Project in Chile. This Report covers the Price Action, Technical Indicators Analysis along with the Stop Loss Levels, Target Prices, and Recommendation on this one stock.

Canada Market Round-Up

The benchmark S&P/TSX Venture Composite Index (TSX: ^JX) started the week on a negative note and maintained bearish momentum for the entire week. On January 25, 2024, the index closed at 550.17 with an overall week-to-date (WTD) loss of 0.39%. Basic Materials, Energy, Technology and Consumer Cyclicals were the leading sector, Real-Estate, Consumer Non-Cyclicals, Industrials and Financials were the laggards on Thursday.

As per the weekly chart analysis, the index is trading below the horizontal trend line resistance level. The leading indicator RSI (14-period) is moving at the midpoint and is showing a reading of ~50.80. Moreover, the prices are trading below the 21-period, which may act as a small resistance, but 50-period SMAs is below price.

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