Sunday, August 8, 2010

In the Zone

$VALE - Compania Vale do Rio Doce

Compania Vale do Rio Doce through its subsidiaries, operates as a diversified metals and mining company worldwide.

The company produces iron ore and iron ore pellets, nickel, manganese ore, ferroalloys, kaolin, and pig iron. It also engages in producing bauxite, alumina, aluminum, copper, metallurgical and thermal coal, metallurgical coke and methanol, cobalt, potash, and other non-ferrous minerals, as well as precious metals, including platinum-group metals, gold, and silver.

In addition, the company operates logistics systems in Brazil, including railroads, maritime terminals, and a port.

Further, it engages in power generation through hydro and oil and gas resources; and steel production. The company was formerly known as Companhia Vale do Rio Doce. Vale S.A. was founded in 1942 and is based in Rio de Janeiro, Brazil.

The company ended the week trading at $29.00 per share up $1.20 or 4.32% on lighter than average volume of 91.2 million. The average weekly volume for Compania Vale do Rio Doce is 132.56 million. Downside support is at $26.68 with upside resistance at the $34.71. Please keep Compania Vale do Rio Doce on your watch list for a breakout above $29.05.

By: Marlin Rolle
*** Please have a close look at the chart below ***

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