Gerdau SA Stock Forecast
Strong day for Gerdau SA stock price on Friday rising 5.26% to $3.80
(Updated on May 03, 2024)
The Gerdau SA stock price gained 5.26% on the last trading day (Friday, 3rd May 2024), rising from $3.61 to $3.80. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.65% from a day low at $3.77 to a day high of $3.87. The price has been going up and down for this period, and there has been a 3.83% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 million more shares were traded than the day before. In total, 36 million shares were bought and sold for approximately $138.35 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.75% during the next 3 months and, with a 90% probability hold a price between $3.08 and $3.95 at the end of this 3-month period.
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GGB Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 9.20%. Further rise is indicated until a new top pivot has been found. 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. The Gerdau SA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.12. On a fall, the stock will find some support from the short-term average at $3.59. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gerdau SA stock
Gerdau SA finds support from accumulated volume at $3.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.100 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $3.64 (-4.32%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GGB) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Gerdau SA to open at $3.81, and during the day (based on 14 day Average True Range), to move between $3.64 and $3.96, which gives a possible trading interval of +/-$0.157 (+/-4.12%) up or down from last closing price. If Gerdau SA takes out the full calculated possible swing range there will be an estimated 8.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.66 (3.68%) than the resistance at $4.24 (11.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gerdau SA stock A Buy?
Gerdau SA 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: -0.658 Hold/Accumulate Upgraded
Predicted Opening Price for Gerdau SA of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$3.81 ( 0.351%) | $3.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.91 | 2.98 % | |
R2 | 3.88 | 1.98 % | ||
R1 | 3.85 | 1.36 % | ||
Current price: | 3.80 | |||
Support | S1 | 3.78 | -0.654 % | |
S2 | 3.75 | -1.28 % | ||
S3 | 3.71 | -2.28 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.49 | 18.16 % | |
R2 | 4.27 | 12.37 % | ||
R1 | 4.24 | 11.58 % | ||
Current price | 3.80 | |||
Support | S1 | 3.66 | -3.68% | |
S2 | 3.61 | -5.00% | ||
S3 | 3.49 | -8.16% |
GGB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 04, 2024 | Mar 19, 2024 | $0.0202 | 0.568% |
2 | Nov 07, 2023 | Nov 20, 2023 | Dec 20, 2023 | $0.0962 | 2.48% |
3 | Aug 21, 2023 | Aug 21, 2023 | Sep 06, 2023 | $0.0878 | 2.08% |
4 | May 03, 2023 | May 16, 2023 | Jun 06, 2023 | $0.101 | 2.39% |
5 | Mar 02, 2023 | Mar 15, 2023 | Jun 06, 2023 | $0.0362 | 0.86% |
FAQ
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