Industrials Stocks News and Tips on the ASX.

  • Share to buy – Rio Tinto (RIO)


    Since bottoming out near $38 in December, iron ore has rallied to presently be trading above $48.

    • Overnight, the bulk commodity jumped 3%.
    • The bounce in iron ore, unsurprisingly, has coincided with a bounce in Rio Tinto which has completed a basing pattern and now appears poised to push higher.
    • We are looking for a short-term rally in Rio and active traders can consider being buyers.

  • Share to sell – Oz Minerals (OZL)

    Oz Minerals chart A recommendation to sell OZL is based primarily on the weakening gold price. Gold price forecasts have been slashed across the board, by between eight and 14%. This has been done to reflect expected US rate rises and lacklustre demand. Technically, OZL is in a downtrend, having sold off from $5.10 in May to presently be trading near support in the $3.70 region. The EMAs are bearish, momentum has turned bearish and the stock is not yet oversold. 7 day trial


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