On Monday, Vale ( VALE ) hit an important technical milestone, seeing its Relative Strength ( RS ) Rating jump into the 80-plus percentile with an improvement to 82, up from 78 the day before.
[ibd-display-video id=2368044 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves.
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Vale is working on a cup with handle with an 11.57 buy point . See if the stock can clear the breakout price in volume at least 40% above average.
Vale saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 31% to 126%. Revenue rose from 17% to 35%.
Vale holds the No. 2 rank among its peers in the Mining-Metal Ores industry group. Mesabi Trust ( MSB ) is the No. 1-ranked stock within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
