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Nickel Miner Vale Stock Clears Key Benchmark, Hitting 80-Plus RS Rating

Vale (VALE) saw a positive improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 80 to 83. The Brazilian firm is the largest producer of mined nickel. It recently completed the sale of its New Caledonia mining assets to a consortium, including commodity trader Trafigura.




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When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.

IBD’s proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price performance over the trailing 52 weeks holds up against all the other stocks in our database.

History reveals that the best-performing stocks typically have an RS Rating of above 80 as they launch their biggest runs.


See How IBD Helps You Make More Money In Stocks


Is Vale Stock A Buy?

Vale stock is now considered extended and out of buy range after clearing a 17.78 buy point in a second-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

 

Earnings grew 146% last quarter, up from 78% in the prior report. Revenue also increased, from 5% to 48%. Look for the next report on or around Apr. 29.

The company earns the No. 1 rank among its peers in the Mining-Metal Ores industry group.

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