A lack of conviction from the buyers may see sellers start to come back in

Potential Sell Entry Alert to Watch S32

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $17.12 Billion Market Cap, VWAP 3.373, ASX Ranking 18, 4 Week Av Turnover $41,809,431, Current Turnover (Intraday as at time of alert) $12,528,614, PE 9.7, Div Yield 4.18%.

Company Overview : South32 Limited (S32) is a diversified metals and mining company with a portfolio of quality assets producing alumina, aluminium, coal, manganese, nickel, silver, lead and zinc.

Broker Consensus : BUY

S32 – South32 Limited

S32 may potentially be finding some longer term weakness after price could not hold above 4.00 and then fell to break below key support. The rally off the lows has lacked conviction from buyers so we see further downside on the cards through 3.00. Watching now for a lower high to bring in more selling pressure.

Stock Code : S32 – South32 Limited

Company Website : www.south32.net

Current Price : 3.355

Status : On watch for potential lower high and Sell opportunity