Cancelled buy entry trigger as buyers step aside to selling pressure

RIO Buy Entry Alert Cancelled

Strong Dividend and share buyback was not enough to keep investors happy as the company increases capital expenditure


Original Alert 31/7/18

New Buy Entry Alert RIO

 

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $33.18 Billion Market Cap, VWAP 80.882, ASX Ranking 12, 4 Week Av Turnover $157,611,047, PE Ratio 12.8, Div Yield 4.55%.

Company Overview : Rio Tinto Limited (RIO) is engaged in minerals and metals exploration, development, production and processing. The Company’s Portfolio of assets is condensed into four product groups: Aluminium, Copper & Diamonds, Energy &Minerals and Iron Ore.

Broker Consensus : Buy

Earnings tentatively Due 1/8/18

 

RIO – RIO Tinto Limited

RIO is in a prime position for a move up as long term buyers continue the trend higher. An earnings update is due out tomorrow which could give price a good boost. We are happy to buy at 83.00 up to 83.20 (in case of a gap higher) and hold the stop loss at 78.00. If price touches 78.00 prior to entry then we will re-assess the alert.

 

Stock Code : RIO- RIO Tinto Limited

Company Website : www.riotinto.com

Current Price : 81.02

New Buy Entry (Trigger Level) : 83.00 up to 83.20

Potential Sell Exit Zone (Stop Loss) : 78.00

Status : On watch for a buy entry trigger