ALGO Buy Signal In Rio Tinto

Our ALGO engine triggered a buy signal for RIO into the ASX close yesterday at $72.70.

The “higher low” structure is referenced to the $68.60 low posted on August 12th.

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Analysts have retained their buy  rating and $90.00 price target on the mining giant’s shares after it announced the sale of its stake in the Kestrel coal mine for US$2.25 billion.

RIO was added to our ASX top 100 Model portfolio last March at $61.40.

RIO Tinto

 

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