VALE Short
Updated
VALE looks like a short to me here. Three drives of bearish divergence on the 4hr MACD and daily RSI divergence. I could also argue for the MACD bearish divergence on the daily too. Throw in a potential bearish abandoned baby and I'm taking a short here at $20.52. Not quite a 3 to 1 reward to risk ratio, but it's close enough for me.
Comment
Exited my short at $17.78. Probably gonna get more to the downside, but I'll take my measured move and go home with this one. Nice 13% move in 2 weeks.
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