$VALE Vale S.A Stock Robo Analyst September 10 2020 #VALE
Vale S.A (VALE) “On a long-term technical basis, the stock (VALE) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 11.59 and 10.98. If the stock breaks down through support at 11.59 then it will probably continue lower to 10.98. The stock has resistance at 11.77 and at 13.69. If the stock breaks up through resistance at 11.77 then it will probably continue higher to 13.69. The 200-day moving average is at 10.66. This will also act as support. 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 11.59 look for a rally to previous highs. The stock is neutral according to the Stochastic Indicator (50.23).”
