Meanwhile, Morgan Stanley downgraded its Vale S.A. ADR [VALE] rating to an Equal-weight from a an Overweight in a research note published on December 12, 2024; the price target was decreased to $11.30 from $14.50. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in mid November from “a Buy” to “a Neutral”. Wolfe Research also remained covering VALE and has decreased its forecast on October 09, 2024 with a “an Underperform” recommendation from previously “Peer perform” rating. Wolfe Research revised its rating on July 17, 2024. It rated VALE as “a Peer perform” which previously was an “an Outperform”.
Price Performance Review of VALE
On Tuesday, Vale S.A. ADR [NYSE:VALE] saw its stock fall -0.70% to $8.56. Over the last five days, the stock has lost -3.39%. Vale S.A. ADR shares have fallen nearly -3.49% since the year began. Nevertheless, the stocks have fallen -41.46% over the past one year. While a 52-week high of $14.62 was reached on 01/02/25, a 52-week low of $8.60 was recorded on 01/07/25. SMA at 50 days reached $9.75, while 200 days put it at $10.95.
Levels Of Support And Resistance For VALE Stock
The 24-hour chart illustrates a support level at 8.47, which if violated will result in even more drops to 8.38. On the upside, there is a resistance level at 8.70. A further resistance level may holdings at 8.84. The Relative Strength Index (RSI) on the 14-day chart is 27.78, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.74%. Stochastics %K at 3.10% 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 2024-12-13, dropping by -11.55 million shares to a total of 60.39 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 71.94 million shares. There was a decline of -19.13%, which implies that there is a negative sentiment for the stock.
