(RIO-) is in an downtrend

(23-May-2008) (23-May-2008) (RIO-) closed at 31.03, down -1.06 or -3.3 % today. Based on our analysis, (RIO-) is in an downtrend.

The closing price of (RIO-) is below its 50 day moving average of 31.77 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that (RIO-) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 23-May-2008, about 9 trading days ago.