Gerdau S.A. Stock Forecast
On Friday, Gerdau S.A. stock price gained an impressive 5.53%
(Updated on May 03, 2024)
The Gerdau S.A. stock price gained 5.53% on the last trading day (Friday, 3rd May 2024), rising from R$18.63 to R$19.66. During the last trading day the stock fluctuated 3.56% from a day low at R$19.11 to a day high of R$19.79. The price has fallen in 5 of the last 10 days but is still up by 2.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately R$589.30 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 -7.29% during the next 3 months and, with a 90% probability hold a price between R$16.74 and R$21.03 at the end of this 3-month period.
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GGBR4.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.84%. 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 S.A. 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 R$21.06. On a fall, the stock will find some support from the short-term average at R$18.61. 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 S.A. stock
Gerdau S.A. finds support from accumulated volume at R$19.62 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 R$0.680 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: R$18.80 (-4.38%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (GGBR4.SA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Gerdau S.A. to open at R$19.52, and during the day (based on 14 day Average True Range), to move between R$18.95 and R$20.37, which gives a possible trading interval of +/-R$0.709 (+/-3.60%) up or down from last closing price. If Gerdau S.A. takes out the full calculated possible swing range there will be an estimated 7.21% 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$19.62 (0.20%) than the resistance at R$21.20 (7.83%), 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 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.
Current score: -0.543 Hold/Accumulate Unchanged
Predicted Opening Price for Gerdau S.A. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
R$19.52 ( 0.712%) | R$19.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGBR4.SA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.20 | 2.75 % | |
R2 | 19.94 | 1.43 % | ||
R1 | 19.78 | 0.609 % | ||
Current price: | 19.66 | |||
Support | S1 | 19.26 | -2.03 % | |
S2 | 19.10 | -2.85 % | ||
S3 | 18.84 | -4.17 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.43 | 14.09 % | |
R2 | 21.84 | 11.09 % | ||
R1 | 21.20 | 7.83 % | ||
Current price | 19.66 | |||
Support | S1 | 19.62 | -0.203% | |
S2 | 18.83 | -4.22% | ||
S3 | 18.63 | -5.24% |
GGBR4 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 04, 2024 | Mar 04, 2024 | Mar 13, 2024 | R$0.100 | 0.549% |
2 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | R$0.470 | 2.42% |
3 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | R$0.470 | 2.46% |
4 | Aug 21, 2023 | Aug 21, 2023 | Aug 21, 2023 | R$0.430 | 2.12% |
5 | May 16, 2023 | May 16, 2023 | May 16, 2023 | R$0.510 | 2.73% |
FAQ
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