While this happened, Wolfe Research downgraded its Vale S.A. ADR [VALE] rating to a Peer perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who increased its forecast for the stock in late June from “an Underperform” to “a Neutral”. UBS also remained covering VALE and has increased its forecast on May 07, 2024 with a “Buy” recommendation from previously “Neutral” rating. BofA Securities revised its rating on April 09, 2024. It rated VALE as “a Neutral” which previously was an “a Buy”.
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Price Performance Review of VALE
On Tuesday, Vale S.A. ADR [NYSE:VALE] saw its stock jump 0.34% to $11.72. Over the last five days, the stock has gained 5.87%. Vale S.A. ADR shares have fallen nearly -23.36% since the year began. Nevertheless, the stocks have fallen -8.39% over the past one year. While a 52-week high of $15.50 was reached on 01/02/24, a 52-week low of $9.66 was recorded on 08/05/24. SMA at 50 days reached $10.56, while 200 days put it at $12.25.
Levels Of Support And Resistance For VALE Stock
The 24-hour chart illustrates a support level at 11.59, which if violated will result in even more drops to 11.45. On the upside, there is a resistance level at 11.82. A further resistance level may holdings at 11.91. The Relative Strength Index (RSI) on the 14-day chart is 69.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.36%. Stochastics %K at 87.09% indicates the stock is a selling.
How much short interest is there in Vale S.A. ADR?
A steep rise in short interest was recorded in Vale S.A. ADR stocks on 2024-09-13, dropping by -4.71 million shares to a total of 63.06 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 67.77 million shares. There was a decline of -7.48%, which implies that there is a negative sentiment for the stock.
