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RIO - Rio Tinto

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I've been in RIO as a long term investor when I bought at $18-20 from memory and again when I converted Warrants at $35. ( back in the 90's )

I'm interested in it's action chartwise atm.

I'll post 2 charts. The first a monthly from the beginning of it's listing and the second over the past 6mo.

It appears to me to be supported at $95 and then $90 and there may be a buying opportunity coming before it moves up beyond $105.

I'd be interested in any chartists' opinions.



gg
 
Just my opinion:
Rio share price is a reflection of commodity cycles, quite a pure one, with the added extra of a well managed company, vs bhp...
So a positive edge
More than chartists advice, maybe you could just look at commodity cycles?
This is the way i would go with Rio
 
Commodities are generally not well priced, except for iron ore.
Last time RIO breached $100 was back in 18 June 2007 (versus 2 April, 2019).
Presently RIO is outperforming BHP because it is less diversified.
My suspicion is that as soon as the gloss comes off iron ore prices then it will be strongly affected than BHP.
 
I like RIO.

It always behaves itself price wise.

$99.99 atm.

I'll post a chart at end of play.

gg
 
I'm looking at adding RIO to my superfund on a breakout above $110 or a retracement below $80.

Price resistance and support.

 
@rederob Intrigued by Rio Performance and reading some of the previous postings you and @Garpal Gumnut made I have few queries.
DNH Rio but do hold BHP.
Today FMG and Rio both have hiked.
We are crying against China
China is the principal consumer for iron ore from Australia for various reasons. For China - it is better and cheaper - no friendship here.
Australian government's money chest contains high content from iron ore income.
Now Rio has breached $100 - does it indicate China Australia back to business billard table again?
With gold going down means more security and hence more construction - all lead to iron ore.
@redbrob -you commented back in 2019 when no one dreamt of COVID. After one year do you hold the same view?
Back in Aug @Garpal Gumnut made a classic statement
 
repost ... somehow I messed up the entry: replying to @Miner

I notice my MND is up some 50% in the last month

and then there is activity at the smaller and more nimble end of the market, taking advantage of good prices:

Marginal miners surf big iron's $US11b investment wave

As Australia's big three iron ore miners prepare to bring new mines into a strong price environment, nimble juniors have already restarted exports.
www.afr.com
"Six years after it was in the hands of receivers, Nathan River's Roper Bar mine in the Northern Territory shipped its first batch of iron ore two weeks ago and was on Friday loading a second vessel in the Gulf of Carpentaria. Iron ore from the Frances Creek mine, owned by NT Bullion, was also transported to Darwin Port this week awaiting its maiden shipment......
Small iron ore projects are emerging from hibernation in WA too; GWR began blasting at its C4 iron ore project near the gold town of Wiluna on Thursday and was mining on Friday in the hope of trucking ore 711 kilometres west to Geraldton port next month.....
Fenix Resources is also hoping to begin shipping through Geraldton next month from its mine 490 kilometres inland."
 
Dona Ferentes said:
View attachment 115876
Click to expand...
Great figures and thanks.
With about US$1.4 b worth of Capex generating operational values in Dec, Roy Hill not included and another US$8.6 B capex by 2021-22, I speculate the following :
1. All the companies on their investment calculations back at approval stage have allowed current relation with China and current China Oz political conflicts are storm in tea cup;
2. In 2022 there will be enough appetite for iron ore and steel to meet the IRR;
3. Iron price will sustain and not become $135 to $65 per ton,
4. Iron is in bull market for next 6 years.
5. I can safely retire in 2024.
I am optimistically selling ice to Igloo residents and sand to Arabs.
Regards
 
Well as anyone familiar with my posts on fundamental analysis knows I am a person of very high principles.

Until the comrades in China stop paying higher and higher prices for iron ore and I can see Chinese tanks on the Townsville Ring Rd. I will continue to hold and add RIO to my Super Fund.

Ole Bob Menzies sold Iron Ore to the Japanese right up to the outbreak of WW2 and I don’t believe his grandchildren are presently begging on the streets.

The market is always 6-12 mo. ahead of politics.

If you think the Chinese will put principles before Iron ore buy a dog. If not RIO.

Business always outranks politics imo.

gg
 
 
This little piglet RIO seems destined for a run. Nice start to an EW 3.

gg

 
RIO seems to have a gallop on this morning. Not huge volume. But up 1.9% already.

I wonder if this is the leg up over $130.00 and then to $150.00.

gg
 
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