Vale S.A (VALE) “On a long-term technical basis, the stock (VALE) is trading below its 200-day moving average which generally implies it is in a negative trend.

The stock has support at 10.18 and 9.09. If the stock breaks down through support at 10.18 then it will probably continue lower to 9.09. The stock has resistance at 10.79 and at 11.32. If the stock breaks up through resistance at 10.79 then it will probably continue higher to 11.32. The 200-day moving average is at 10.79. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 10.18 look for a rally to previous highs. The stock is slightly overbought according to the Stochastic Indicator (69.84).”