Ferroglobe PLC Stock Forecast
High volatility in Ferroglobe PLC stock price on Tuesday which ended trading at $5.02
(Updated on Apr 23, 2024)
The Ferroglobe PLC stock price gained 0.200% on the last trading day (Tuesday, 23rd Apr 2024), rising from $5.01 to $5.02. During the last trading day the stock fluctuated 12.47% from a day low at $4.89 to a day high of $5.50. The price has fallen in 6 of the last 10 days and is down by -4.38% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 458 thousand more shares were traded than the day before. In total, 931 thousand shares were bought and sold for approximately $4.67 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ferroglobe PLC stock with a 90% probability to be traded between $4.24 and $5.51 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GSM Signals & Forecast
The Ferroglobe PLC stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5.03. On a fall, the stock will find some support from the long-term average at approximately $4.83. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -10.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ferroglobe PLC stock
Ferroglobe PLC finds support from accumulated volume at $4.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.610 between high and low, or 12.47%. For the last week, the stock has had daily average volatility of 5.34%.
Our recommended stop-loss: $4.72 (-6.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (GSM) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Ferroglobe PLC to open at $5.14, and during the day (based on 14 day Average True Range), to move between $4.79 and $5.25, which gives a possible trading interval of +/-$0.233 (+/-4.64%) up or down from last closing price. If Ferroglobe PLC takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.08 (1.20%) than the support at $4.88 (2.79%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ferroglobe PLC stock A Buy?
Ferroglobe PLC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.010 Hold/Accumulate Upgraded
Predicted Opening Price for Ferroglobe PLC of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $5.14 ( 2.32%) | $5.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.75 | 14.48 % | |
| R2 | 5.51 | 9.83 % | ||
| R1 | 5.37 | 6.97 % | ||
| Current price: | 5.02 | |||
| Support | S1 | 4.90 | -2.32 % | |
| S2 | 4.76 | -5.19 % | ||
| S3 | 4.53 | -9.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.58 | 11.16 % | |
| R2 | 5.10 | 1.59 % | ||
| R1 | 5.08 | 1.20 % | ||
| Current price | 5.02 | |||
| Support | S1 | 4.88 | -2.79% | |
| S2 | 4.54 | -9.56% | ||
| S3 | 4.47 | -10.96% |
GSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0130 | 0.261% |
| 2 | Aug 21, 2018 | Sep 04, 2018 | Sep 20, 2018 | $0.0600 | 0.721% |
| 3 | May 21, 2018 | Jun 07, 2018 | Jun 29, 2018 | $0.0600 | 0.700% |
| 4 | Nov 14, 2016 | Dec 06, 2016 | Dec 29, 2016 | $0.0800 | 0.725% |
| 5 | Aug 03, 2016 | Sep 12, 2016 | Sep 28, 2016 | $0.0800 | 0.87% |
FAQ
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