Rio Tinto (ASX:RIO) is this week’s ‘Hot Stock’ pick on Wealth Within’s Hot Stock Tips show for HotCopper today.
Hosts, Wealth Within’s chief analyst Dale Gillham and senior analyst Filip Tortevski discuss how Rio, along with BHP Group (ASX:BHP) and Fortescue (ASX:FMG) have moved sideways for a long while, but argue graphs support there could be a more bullish run.
They see Rio as having momentum which – if it continues – could see it return to all time highs.
Despite this, Rio has been trading down nearly 3.5% today at about $128.
The ‘Proceed with Caution’ stock is Santos (ASX:STO), given Gillham and Tortevski see the stock’s been holding below $8 – well below the highs of the early 2000s. But they advise the timing may not be right just yet.
The ‘Not Hot’ stock is Charter Hall Social Infrastructure REIT (ASX:CQC) which they see as trending down – Filip Tortevski says his chart analysis suggests it could drop significantly further.
Dale Gillham and Filip Tortevski discuss the top performers on market over the past week and the rise of gold. Gold Road Resources (ASX:GOR), Silver Lake Resources (ASX:SLR) and Bellevue Gold (ASX:BGL).
But in this program, they argue gold was proving to be ‘not as defensive as it used to be’.
Wealth Within’s live YouTube show is tonight at 7pm (AEST). You can send questions to info@wealthwithin.com.au
Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in bookstores and online at www.wealthwithin.com.au
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