Tuesday, September 11, 2012

Mining Stocks

Hello there,

Today's post is about MMXM3 (Eike's mining company).

Here is a VALE5 (Vale do Rio Doce) chart that show us strong reaction move on government measures to help this sector. VALE5 is one of the major companies in Brazil and it's results affect directly in our GDP.

After a strong day VALE5 gapped up. If this stock keep running up could be a good idea to look after mining stocks because of its weight in this sector. The one who catched up my attention is MMXM3.

MACD is showing a move up but its price is still lagging. Maybe a long position with stop under its support.

Have a nice trade!

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