Australian Stock Report > Share Tips > S&P ASX News > ASX Top 200 XJO > Share to buy – Rio Tinto (RIO)
Share to buy – Rio Tinto (RIO)
Posted on February 22, 2016
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.