$VALE Trader Vic says Go Long
Based on Trader's Vic book "Methods of a Wall Street Master" (highly recommend) , VALE has now started an uptrend. See my post on PLBY very similar, was a great trade, I'm hoping for the same here ... of course I could be completely wrong RESPECT STOP LOSS . Market has been TOUGH lately. I have a STARTER position of commons.
Things that appear good from a technical perspective :
- Broke out of down trend (for now) , appears to be starting trend up
- EMAs turning up with 8EMA crossing 50EMA now
- Nice VP gap at $14.8 , if it breaks this I will go FULL position
- MOMO and RSI bullish confluence
- Trading above 50ema now and holding
Again, respect the stop loss
Near Term PT $14.8 with a BULLISH PT upon resistance break of $18
Things that appear good from a technical perspective :
- Broke out of down trend (for now) , appears to be starting trend up
- EMAs turning up with 8EMA crossing 50EMA now
- Nice VP gap at $14.8 , if it breaks this I will go FULL position
- MOMO and RSI bullish confluence
- Trading above 50ema now and holding
Again, respect the stop loss
Near Term PT $14.8 with a BULLISH PT upon resistance break of $18
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.