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5 Metals Stocks to Trade for Gains This Fall


$95 billion Brazilian metal miner Vale (VALE - Get Report) is another name whose chart hasn't been looking great for the past few months. Vale is down more than 13% on the year, bouncing lower in between downtrending resistance and support levels. But here again is a setup that's actually bullish on further inspection.

That's because Vale is forming a falling wedge, a reversal pattern that's formed by downtrending support and resistance levels that are converging. The buy signal in a falling wedge comes on the breakout through resistance -- and with Vale testing resistance this month, that buy signal could be coming sooner rather than later. This is a pattern worth paying attention to. One study puts the pattern's ability to spot a reversal at more than 90%.

Obviously, this isn't a setup that you want to get in on early. The buy signal comes on a breakout above the resistance level above shares, but VALE could feasibly fall materially further and remain within the wedge before a breakout does happen. Until resistance gets taken out, keep this name on the back burner.
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AU $15.47 -3.49%
LODE $0.48 3.45%
PKX $49.01 -1.51%
SLW $19.48 -3.75%
VALE $5.21 -7.79%


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