January 13, 2023, 1:09 pm EST
2023 Actual Trade RIO: +30% Profits
As published on 11/04 Watchlist: Our Works Matter – BHP Group (BHP) we bought BHP Group Ltd (BHP) and Rio Tin PLC (RIO) for our portfolio on 11/07/2022. Both companies are well above 100 billion market caps in the basic material sector.
The timing for the entry point is essential because both RIO and BHP began their strong uptrend for the next 3 months without looking back. Technically, we can see the breakaway gap of +10% gains on Friday 11/04/2022. The powerful jump crossing 20 & 50 day-moving-average converted the mild downtrend base into a promising rally. Indeed, other investors noticed the action and began to join RIO and BHP. In fact, many basic material companies were up together.
High inflation and infrastructure projects could be driving forces behind it.
The key is to catch the rally without hesitation. We decide to take profits on RIO for now because we still have other material positions.