While this happened, Wolfe Research downgraded its Vale S.A. ADR [VALE] rating to an Underperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in mid July from “an Outperform” to “a Peer perform”. Exane BNP Paribas also remained covering VALE and has increased its forecast on June 21, 2024 with a “Neutral” recommendation from previously “an Underperform” rating. UBS revised its rating on May 07, 2024. It rated VALE as “a Buy” which previously was an “a Neutral”.
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Price Performance Review of VALE
On Tuesday, Vale S.A. ADR [NYSE:VALE] saw its stock fall -2.79% to $10.79. Over the last five days, the stock has lost -2.35%. Vale S.A. ADR shares have fallen nearly -29.44% since the year began. Nevertheless, the stocks have fallen -13.66% 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 $10.68, while 200 days put it at $12.03.
Levels Of Support And Resistance For VALE Stock
The 24-hour chart illustrates a support level at 10.70, which if violated will result in even more drops to 10.61. On the upside, there is a resistance level at 10.86. A further resistance level may holdings at 10.92. The Relative Strength Index (RSI) on the 14-day chart is 45.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.38, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.94%. Stochastics %K at 18.21% indicates the stock is a buying.
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 2024-09-30, growing by 24.91 million shares to a total of 90.41 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 65.5 million shares. There was a rise of 27.56%, which implies that there is a positive sentiment for the stock.
