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Potential Buy Entry Alert to Watch MIN
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Key Stats : $3.19 Billion Market Cap, VWAP 17.015, ASX Ranking 117, 4 Week Av Turnover $17,528,587, Current Turnover (Intraday as at time of alert) $10,139,673, PE 26.0, Div Yield 3.13%.
Company Overview : Mineral Resources Limited (MIN) is an Australia based mining service, contracting, processing and commodities production company. MIN’s portfolio of market brands comprise of: PIHA, Crushing Services International and Process Minerals International; its minerals producer market brands are Polaris Metals and Mesa Minerals.
Broker Consensus : BUY
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MIN – Mineral Resources Limited
MIN is showing some good signs that buyers are lifting their game for a move higher. Price action has spent the last year contracting lower off the highs around 22.00 and we have now seen the first higher low hold at 15.00. We are now watching for miner higher lows below 18.00 further evidence that buyers are entering to support price. If we see the action we like then its all about the entry setup to get on board.
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Stock Code : MIN – Mineral Resources Limited
Company Website : www.mineralresources.com.au
Current Price : 17.11
Status : On watch for potential higher low and move through 20.00
