$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
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