Rio Tinto Limited (ASX:RIO) HEFFX Highlights

Rio Tinto Limited (ASX:RIO) HEFFX Highlights

Rio Tinto Limited (ASX:RIO) HEFFX Highlights

  • Rio Tinto has hailed a more productive dialogue with the State Government as the resources industry works to improve its image with regional communities.
  • The mining giant hosted WA Premier Mark McGowan on a tour of its Dampier port facilities this month to highlight the work being done to increase the number of local apprentices and trainees.
  • Rio Tinto port, rail and core services managing director Ivan Vella said the relationship between big industry and government had improved in the past few months.
  • “I think it is very positive and we do need to co-operate better to build that sustainability,” he said.
  • “We are going to have a lot more leverage and impact if the big mining players and oil and gas are working in a co-ordinated manner on local content, training and development.”

Rio Tinto Limited (Rio Tinto) is a mining company. The Company is focused on finding, mining and processing of mineral resources. Its segments include Iron Ore, Aluminum, Copper & Diamonds, Energy & Minerals, and Other Operations. Its products include aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide and salt), iron ore, thermal and metallurgical coal, and uranium. The Iron Ore product group’s operations are located in the Pilbara region of Western Australia. The Company’s business includes bauxite mines, alumina refineries and a range of aluminum smelters. The Copper & Diamonds product group has managed operations in Australia, Canada, Mongolia and the United States, and non-managed operations in Chile and Indonesia. The Energy & Minerals has operations across six sectors: borates, coal, iron ore concentrate and pellets, salt, titanium dioxide and uranium.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 66.90.

The projected lower bound is: 61.45.

The projected closing price is: 64.17.

RIO TINTO FPO closed up 0.960 at 64.150. Volume was 36% below average (neutral) and Bollinger Bands were 18% narrower than normal.

Open High Low Close Volume___
63.200 64.340 63.200 64.150 1,448,462

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 64.06 63.48 61.92
Volatility: 25 28 34
Volume: 2,062,302 2,249,052 2,395,012

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

RIO TINTO FPO is currently 3.6% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of RIO.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on RIO.AX and have had this outlook for the last 5 periods.

 

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 68.7501. This is not an overbought or oversold reading. The last signal was a buy 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 50.13. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 63 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -34. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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