Rio Tinto Limited (ASX:RIO) HEFFX Highlights

Rio Tinto Limited (ASX:RIO) HEFFX Highlights

Rio Tinto Limited (ASX:RIO) HEFFX Highlights

  • “Gains from AutoHaul are already being realised including reduced variability and increased speed across the network, helping to reduce average cycle times.”
  • The technology that enables cars to be driven without human intervention could soon become the norm on the rail tracks, after a mining company completed the world’s first fully autonomous rail journey. Rio Tinto, successfully carried out the first-ever autonomous journey in Australia using its own system, AutoHaul.
  • The 62-mile trial trip – used for Rio Tinto’s iron ore operations in the country – was the company’s first step towards its vision of fully driverless operations by the end of 2018.
  • Driverless trains have long been a feature of the world’s networks, including on London’s Docklands Light Railway and Kuala Lumpur’s metro, but what makes Rio Tinto’s journey different is that it took place without any input from network operators, something that purely driverless trains need.

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 moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 71.87.

The projected lower bound is: 66.66.

The projected closing price is: 69.27.

RIO TINTO FPO closed down -0.050 at 69.200. Volume was 19% below average (neutral) and Bollinger Bands were 15% narrower than normal.

Open       High         Low        Close      Volume
69.500    70.480    69.170    69.200    1,717,846

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 67.50 66.45 63.40
Volatility: 26 25 31
Volume: 2,059,045 2,017,179 2,302,872

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 9.1% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of RIO.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on RIO.AX and have had this outlook for the last 4 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 74.3819. This is not an overbought or oversold reading. The last signal was a sell 3 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 60.56. 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 98 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 147.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 11 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 buy 4 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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