Vale: tenth week managing the sell signal
Vale drops 1.7% as the decline holds between the 72 and 74 areas
Vale: tenth week managing the sell signal
Our view last week
Vale closed the week down 5.9%, its sharpest drop in a month, with sellers back in control of 67% of the volume. The weekly RSI slipped to 42.7, its low for the period, while the ADX has now fallen for a fourth straight week: the trend keeps losing conviction. Weekly technical analysis: the sell signal is in its 10th week of management, the short close to 9% in profit.
This week's summary
Vale shares closed another red week, down 1.7%, the tenth week of managing the Sell signal, with the short now more than 10% in profit. The pace has slowed from last week's 5.9% drop, but sellers stay in control at 71% of volume and the weekly RSI has slipped to a fresh low for the period, 41. Weekly technical analysis: price remains boxed between the 72 and 74.3 areas.
Ongoing decline
·11th week from start
·Rest of the World stocks
·T2
·📅 Earnings · Jul 23
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IQS Phase
70
in tension
Signal Strength
32
decline losing steam
Sizing
REDUCED
Ranking
#11 / 16
Rest of the World stocks
Trade P&L %
+10.49%
from signal to today
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