As this happened, UBS downgraded its Vale S.A. ADR [VALE] rating to a Neutral from a a Buy in a research note published on November 11, 2024; the price target was decreased to $11.50 from $14. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in early October from “a Peer perform” to “an Underperform”. Wolfe Research also remained covering VALE and has decreased its forecast on July 17, 2024 with a “Peer perform” recommendation from previously “an Outperform” rating. Exane BNP Paribas revised its rating on June 21, 2024. It rated VALE as “a Neutral” which previously was an “an Underperform”.
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Price Performance Review of VALE
On Tuesday, Vale S.A. ADR [NYSE:VALE] saw its stock fall -1.69% to $9.90. Over the last five days, the stock has lost -1.20%. Vale S.A. ADR shares have fallen nearly -35.26% since the year began. Nevertheless, the stocks have fallen -31.04% 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 $10.73, while 200 days put it at $11.47.
Levels Of Support And Resistance For VALE Stock
The 24-hour chart illustrates a support level at 9.82, which if violated will result in even more drops to 9.74. On the upside, there is a resistance level at 10.00. A further resistance level may holdings at 10.10. The Relative Strength Index (RSI) on the 14-day chart is 37.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.21%. Stochastics %K at 14.07% 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 2024-11-15, dropping by -0.98 million shares to a total of 71.94 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 72.92 million shares. There was a decline of -1.36%, which implies that there is a negative sentiment for the stock.
