Amitamit2000
Long

Companhia vale, you are on a watch list

NYSE:VALE   VALE S.A. SPONS ADS REPR 1 COM NPV
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Companhia vale was in a downward trend that broke out. In other words, it has been upward trend in recent weeks.
currently it is at a significant level around 12.5.
we can see the gap down due to earnings . also, looks like buyers coming in given the fact that the volume is getting a bit higher.
the suggested direction after approval candle shows up would be long.
Rsi – isn't high.
If the 12.5 level will become a resistance level and a reversal candle is created, we will consider entering to a short trade.
Currently being followed for new developments.
This is not a recommendation to buy or sell

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