Vale Stock Forecast
Vale stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Vale stock price gained 1.82% on the last trading day (Friday, 26th Apr 2024), rising from $12.06 to $12.28. During the last trading day the stock fluctuated 1.56% from a day low at $12.16 to a day high of $12.35. The price has risen in 6 of the last 10 days and is up by 2.16% over the past 2 weeks. Volume fell on the last day by -12 million shares and in total, 21 million shares were bought and sold for approximately $261.84 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $12.37 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -13.79% during the next 3 months and, with a 90% probability hold a price between $9.84 and $10.67 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
VALE Signals & Forecast
The Vale stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $12.16 and $12.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.23%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Vale stock
Vale finds support from accumulated volume at $12.21 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 $0.190 between high and low, or 1.56%. For the last week the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: $11.75 (-4.35%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (VALE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Vale S.A. to open at $12.26, and during the day (based on 14 day Average True Range), to move between $11.96 and $12.60, which gives a possible trading interval of +/-$0.318 (+/-2.59%) up or down from last closing price. If Vale S.A. takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.21 (0.57%) than the resistance at $12.50 (1.79%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.743 Hold/Accumulate Upgraded
Predicted Opening Price for Vale S.A. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $12.26 ( 0.136%) | $12.28 |
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 | 12.45 | 1.41 % | |
| R2 | 12.38 | 0.82 % | ||
| R1 | 12.34 | 0.455 % | ||
| Current price: | 12.28 | |||
| Support | S1 | 12.19 | -0.727 % | |
| S2 | 12.15 | -1.09 % | ||
| S3 | 12.07 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.49 | 9.85 % | |
| R2 | 13.37 | 8.88 % | ||
| R1 | 12.50 | 1.79 % | ||
| Current price | 12.28 | |||
| Support | S1 | 12.21 | -0.570% | |
| S2 | 12.11 | -1.38% | ||
| S3 | 12.02 | -2.12% |
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
Click here for our free guide on how to buy Vale Stock.
