I played this to the GAP fill and got out. But it still looks promising and I may go long again at this trendline.
If I'm feeling conservative (which I usually am), I'll wait for a higher high and higher low. The weekly chart, though, looks promising
In the short run it is overbought with an RSI over 73
However in the long run it looks like it is breaking out of a long downtrend and I see it reaching 22-23 next year.
Fundamentals are really good as P/E of 8.65 with earnings way below its longterm average.
The China slowdown has been priced in by far.
I will start a long position next time RSI looks...
Vale has increased volume and has just broken this long term trend line . It could be set for a nice comeback, I am going to trade this but I will be buying stocks for a long term investment as it could take a while for China's steel needs to return. Previous dividends have been quite good, I expect 3-4% in divs and potential growth as well.
Vale is one of the...
VALE has been a tough stock to trade, as are many of the miners. The daily chart of VALE is showing a potential Inverse H&S bottom formation, and the weekly is showing a similar picture with a near equal measured move. Navigating this trade is up to the risk tolerance of the individual, but a decent 20% gain could be had in a couple months time.
RSI is...
