Hit the 'Mother Lode' With Vale ADRs

Vale S.A. ADRs (VALE) look to be headed to new highs. VALE made a "V" bottom in early 2016 and the rally does not look to be over. Let's look at the latest charts and indicators to suggest a strategy to capitalize on higher share prices in the weeks ahead.

In this daily bar chart of VALE, below, we can see the price action of the past 12 months. There is a strong rally from $5.00 to around $11.50 followed by a four-month correction to the $8.00 area. From a June low prices have rallied back to the highs faster than the decline. Prices are above the rising 50-day moving average line and the rising 200-day line. Just last month the 50-day line crossed back above the 200-day line for a bullish golden cross. ...204 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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