The stock is in the
handle of a nice-looking cup. I've been really trying to find stocks before they break out, particuarly ones with strong fundementals, as stocks that have a great fundemental base have the highest probability of breaking out and making strong gains thereafter.
This stocks totes an impressive 99 overall rating by IBD, the highest possible (meaning this stock outperforms 99% of all others in the technical and fundemental categories that IBD rates). RIO has a 91 EPS, 94 RS, A+ group RS, A "SMR," and B+ Acc/Dis ratings. Its industry group is ranked 10/197.
RIO sports fantastic quarter/quarter earnings growth, and solid year/year earnings growth. Its sales growth quarter/quarter is very strong. It has accelerating profit margins and shows an unreal 60.19% ROE.
Negatives are that its an ADR (which poses a certain risk) out of Brazil. However, unlike other ADRs, it still is traded with significant volume (2,856,440 shares avg).
RIO also looks poised to breakout on its weekly chart, as well as its daily chart-- very bullish, in a bullish market.
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