Vale S.A. Stock Forecast
Vale S.A. stock price down 0.0633% on Friday
(Updated on May 31, 2024)
The Vale S.A. stock price fell by -0.0633% on the last day (Friday, 31st May 2024) from R$63.24 to R$63.20. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.05% from a day low at R$62.79 to a day high of R$63.45. The price has fallen in 7 of the last 10 days and is down by -2.63% for this period. Volume has increased on the last day by 7 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 23 million shares were bought and sold for approximately R$1.48 billion.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.11% during the next 3 months and, with a 90% probability hold a price between R$63.88 and R$69.29 at the end of this 3-month period.
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VALE3.SA Signals & Forecast
There are few to no technical positive signals at the moment. The Vale S.A. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at R$64.46 and R$63.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -4.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Vale S.A. stock
Vale S.A. finds support from accumulated volume at R$62.97 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 R$0.660 between high and low, or 1.05%. For the last week the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VALE3.SA) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Vale S.A. to open at R$63.15, and during the day (based on 14 day Average True Range), to move between R$62.16 and R$64.24, which gives a possible trading interval of +/-R$1.04 (+/-1.65%) up or down from last closing price. If Vale S.A. takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$62.97 (0.36%) than the resistance at R$63.96 (1.20%), 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?
The Vale S.A. stock holds several negative signals and despite the positive trend, we believe Vale S.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.592 Sell Candidate Unchanged
Predicted Opening Price for Vale S.A. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| R$63.15 ( 0.0844%) | R$63.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VALE3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.81 | 0.96 % | |
| R2 | 63.55 | 0.561 % | ||
| R1 | 63.40 | 0.315 % | ||
| Current price: | 63.20 | |||
| Support | S1 | 62.89 | -0.483 % | |
| S2 | 62.74 | -0.730 % | ||
| S3 | 62.49 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.75 | 5.62 % | |
| R2 | 63.99 | 1.25 % | ||
| R1 | 63.96 | 1.20 % | ||
| Current price | 63.20 | |||
| Support | S1 | 62.97 | -0.364% | |
| S2 | 60.84 | -3.73% | ||
| S3 | 59.76 | -5.44% |
VALE3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 12, 2024 | Mar 19, 2024 | R$2.74 | 4.46% |
| 2 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | R$2.33 | 3.25% |
| 3 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | R$1.92 | 3.34% |
| 4 | Mar 14, 2023 | Mar 14, 2023 | Mar 14, 2023 | R$1.83 | 2.41% |
| 5 | Dec 13, 2022 | Dec 13, 2022 | Dec 13, 2022 | R$0.292 | 0.384% |
FAQ
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