Look for Shares of Vale to Potentially Pullback after Yesterday's 2.11% Rise
Vale (NASDAQ:VALE) traded in a range yesterday that spanned from a low of $5.73 to a high of $5.85. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $5.75 on volume of 9.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Vale share prices have been bracketed by a low of $2.13 and a high of $9.14 and are now at $5.82, 173% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 3.7%.
SmarTrend is tracking the current trend status for Vale and will alert subscribers who have VALE in their portfolio or watchlist when shares have changed trend direction.