Gerdau S.A. Stock Forecast
Weaker technical forecast for Gerdau S.A. as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The Gerdau S.A. stock price fell by -2.27% on the last day (Friday, 17th May 2024) from R$17.64 to R$17.24. During the last trading day the stock fluctuated 2.67% from a day low at R$17.24 to a day high of R$17.70. The price has been going up and down for this period, and there has been a 0.58% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -138 thousand shares and in total, 50 thousand shares were bought and sold for approximately R$853.38 thousand.
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 -16.15% during the next 3 months and, with a 90% probability hold a price between R$12.61 and R$16.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GGBR3.SA Signals & Forecast
There are mixed signals in the stock today. The Gerdau S.A. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at R$17.36 and R$18.19. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gerdau S.A. stock
Gerdau S.A. finds support from accumulated volume at R$17.14 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved R$0.460 between high and low, or 2.67%. For the last week the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GGBR3.SA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Gerdau S.A. to open at R$17.39, and during the day (based on 14 day Average True Range), to move between R$16.75 and R$17.73, which gives a possible trading interval of +/-R$0.492 (+/-2.85%) up or down from last closing price. If Gerdau S.A. takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$17.14 (0.58%) than the resistance at R$17.64 (2.32%), 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 S.A. stock A Buy?
Gerdau S.A. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.636 Sell Candidate Downgraded
Predicted Opening Price for Gerdau S.A. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| R$17.39 ( 0.89%) | R$17.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGBR3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.85 | 3.56 % | |
| R2 | 17.68 | 2.54 % | ||
| R1 | 17.57 | 1.91 % | ||
| Current price: | 17.24 | |||
| Support | S1 | 17.22 | -0.130 % | |
| S2 | 17.11 | -0.760 % | ||
| S3 | 16.93 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.58 | 19.37 % | |
| R2 | 19.58 | 13.57 % | ||
| R1 | 17.64 | 2.32 % | ||
| Current price | 17.24 | |||
| Support | S1 | 17.14 | -0.580% | |
| S2 | 16.82 | -2.44% | ||
| S3 | 16.32 | -5.34% |
GGBR3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | May 27, 2024 | R$0.280 | 1.62% |
| 2 | Mar 04, 2024 | Mar 04, 2024 | Mar 13, 2024 | R$0.100 | 0.619% |
| 3 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | R$0.470 | 2.70% |
| 4 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | R$0.470 | 2.70% |
| 5 | Aug 21, 2023 | Aug 21, 2023 | Aug 21, 2023 | R$0.430 | 2.33% |
FAQ
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