Metalurgica Gerdau S.A. Stock Forecast
Metalurgica Gerdau S.A. stock downgraded to Sell Candidate
(Updated on Jun 14, 2024)
The Metalurgica Gerdau S.A. stock price fell by -0.97% on the last day (Friday, 14th Jun 2024) from R$10.30 to R$10.20. During the last trading day the stock fluctuated 2.18% from a day low at R$10.10 to a day high of R$10.32. The price has fallen in 8 of the last 10 days and is down by -5.73% for this period. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 35 thousand shares were bought and sold for approximately R$357.00 thousand.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately R$10.21 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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GOAU3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Metalurgica 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$10.28 and R$10.87. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Metalurgica Gerdau S.A. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Metalurgica Gerdau S.A. stock
Metalurgica Gerdau S.A. finds support from accumulated volume at R$10.10 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 R$0.220 between high and low, or 2.18%. For the last week, the stock has had daily average volatility of 2.22%.
Metalurgica Gerdau S.A. is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GOAU3.SA) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Metalurgica Gerdau S.A. to open at R$10.21, and during the day (based on 14 day Average True Range), to move between R$9.96 and R$10.44, which gives a possible trading interval of +/-R$0.241 (+/-2.36%) up or down from last closing price. If Metalurgica Gerdau S.A. takes out the full calculated possible swing range there will be an estimated 4.72% 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$10.10 (0.98%) than the resistance at R$10.46 (2.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Metalurgica Gerdau S.A. stock A Buy?
Metalurgica Gerdau S.A. holds several negative signals and is within a wide and falling trend, so we believe 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: -2.564 Sell Candidate Downgraded
Predicted Opening Price for Metalurgica Gerdau S.A. of Monday, June 17, 2024
Fair opening price June 17, 2024 | Current price |
---|---|
R$10.21 ( 0.0654%) | R$10.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOAU3.SA
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.43 | 2.22% |
R2 | 10.34 | 1.40% |
R1 | 10.29 | 0.89% |
Price | 10.20 | |
S1 | 10.12 | -0.759% |
S2 | 10.07 | -1.27% |
S3 | 9.99 | -2.09% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.23 | 10.10% |
R2 | 11.17 | 9.51% |
R1 | 10.46 | 2.55% |
Price | 10.20 | |
S1 | 10.10 | -0.98% |
S2 | 10.08 | -1.18% |
S3 | 0 | - |
GOAU3 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 16, 2024 | May 16, 2024 | May 28, 2024 | R$0.190 | 1.75% |
2 | Mar 04, 2024 | Mar 04, 2024 | Mar 13, 2024 | R$0.0500 | 0.496% |
3 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | R$0.93 | 8.87% |
4 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | R$0.93 | 8.68% |
5 | Aug 21, 2023 | Aug 21, 2023 | Aug 21, 2023 | R$0.260 | 2.50% |
FAQ
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