On 18 Oct 2012, we had bought Vale SA at $18.76, see here. Vale SA is a commodity giant based in Brazil listed in NYSE.
At that time everybody is bearish on China. Many analysts predict that demand for iron ore will be reduced. Hence share price of Vale fell. This allows us to buy Vale SA at a good price. Thanks to all the bearish Vale analysts.
Strong resistance forms at $21.00. We decide to close this trade today.
Sold Vale SA at 20.84, profit is 11.08% in just 2 months’ time. This stock has been paying dividend yield of 5%.
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