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)
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.
VIEW SHARE market recommendations BY CATEGORY
Access our investment insights free
Not understanding the financials of even big blue chips can cost you precious income such as when Telstra reduced their dividends.
This is why our hugely popular Income report has become a must read report for all income investors
Download the Income Report for free to get the top ASX Dividend Stock Recommendations for 2018.
We’re here to help
Need to speak to someone about companies or investing?
Our knowledgeable team is on hand to assist