Vale Stock Forecast
Vale stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Vale stock price fell by -2.51% on the last day (Thursday, 25th Apr 2024) from $12.37 to $12.06. During the last trading day the stock fluctuated 1.34% from a day low at $11.97 to a day high of $12.13. The price has been going up and down for this period, and there has been a -0.9% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 33 million shares were bought and sold for approximately $396.83 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.33% during the next 3 months and, with a 90% probability hold a price between $9.80 and $10.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VALE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.34%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Vale stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $12.10 and $12.22. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Vale stock
Vale finds support from accumulated volume at $12.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.160 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VALE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Vale S.A. to open at $12.05, and during the day (based on 14 day Average True Range), to move between $11.74 and $12.38, which gives a possible trading interval of +/-$0.320 (+/-2.65%) up or down from last closing price. If Vale S.A. takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.02 (0.33%) than the resistance at $12.21 (1.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vale S.A. stock A Buy?
Vale holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.828 Sell Candidate Downgraded
Predicted Opening Price for Vale S.A. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $12.05 ( 0.0553%) | $12.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VALE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.21 | 1.27 % | |
| R2 | 12.15 | 0.765 % | ||
| R1 | 12.11 | 0.452 % | ||
| Current price: | 12.06 | |||
| Support | S1 | 11.99 | -0.562 % | |
| S2 | 11.95 | -0.88 % | ||
| S3 | 11.89 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.49 | 11.86 % | |
| R2 | 12.50 | 3.65 % | ||
| R1 | 12.21 | 1.24 % | ||
| Current price | 12.06 | |||
| Support | S1 | 12.02 | -0.332% | |
| S2 | 11.92 | -1.16% | ||
| S3 | 11.67 | -3.23% |
VALE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 12, 2024 | Mar 26, 2024 | $0.547 | 4.55% |
| 2 | Oct 27, 2023 | Nov 22, 2023 | Dec 08, 2023 | $0.310 | 2.11% |
| 3 | Jul 28, 2023 | Aug 14, 2023 | Sep 11, 2023 | $0.406 | 2.96% |
| 4 | Feb 16, 2023 | Mar 14, 2023 | Mar 29, 2023 | $0.354 | 2.27% |
| 5 | Dec 02, 2022 | Dec 13, 2022 | May 10, 2023 | $0.0560 | 0.400% |
FAQ
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