Vale (VALE) NewsBite - Economic Optimism Lifts VALE

Posted: Tuesday, October 06, 2009 10:43 AM EDT
By: Market Intelligence Center Staff





Vale (NYSE: VALE) opened at $23.87. So far today, the stock has hit a low of $23.80 and a high of $24.19. VALE is now trading at $24.12, up $0.63 (2.68%). Over the last 52 weeks the stock has ranged from a low of $8.80 to a high of $23.65. Shares of VALE are trading higher today after news of an interest rate hike in Australia reignited investors' hopes that the global economy is recovering, extending yesterday's market rally into a second day. Technical indicators for the stock are neutral and S&P gives VALE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on VALE the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]



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