Following these proceedings, Wolfe Research upgraded its Vale S.A. ADR [VALE] rating to a Peer perform from a an Underperform in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “an Equal-weight”. UBS also remained covering VALE and has decreased its forecast on November 11, 2024 with a “Neutral” recommendation from previously “Buy” rating. Wolfe Research revised its rating on October 09, 2024. It rated VALE as “an Underperform” which previously was an “a Peer perform”.
Price Performance Review of VALE
On Tuesday, Vale S.A. ADR [NYSE:VALE] saw its stock jump 1.29% to $8.62. Vale S.A. ADR shares have fallen nearly -2.82% since the year began. Nevertheless, the stocks have fallen -39.38% over the past one year. While a 52-week high of $13.90 was reached on 01/02/25, a 52-week low of $8.38 was recorded on 01/13/25. SMA at 50 days reached $9.56, while 200 days put it at $10.88.
Levels Of Support And Resistance For VALE Stock
The 24-hour chart illustrates a support level at 8.56, which if violated will result in even more drops to 8.51. On the upside, there is a resistance level at 8.69. A further resistance level may holdings at 8.77. The Relative Strength Index (RSI) on the 14-day chart is 33.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.50%. Stochastics %K at 23.72% indicates the stock is a holding.
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 2024-12-31, growing by 7.48 million shares to a total of 74.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 67.43 million shares. There was a rise of 9.99%, which implies that there is a positive sentiment for the stock.
