Ferroglobe PLC stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on Dec 03, 2021)
Sell candidate since 2021-11-11 Loss -15.06% PDF
The Ferroglobe PLC stock price fell by -4.82% on the last day (Friday, 3rd Dec 2021) from $6.22 to $5.92. During the day the stock fluctuated 7.76% from a day low at $5.80 to a day high of $6.25. The price has been going up and down for this period, and there has been a -1.82% loss 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 -64 thousand shares and in total, 2 million shares were bought and sold for approximately $11.17 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 -28.90% during the next 3 months and, with a 90% probability hold a price between $3.47 and $5.11 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.
Signals & Forecast
There are few to no technical positive signals at the moment. The Ferroglobe PLC 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 $6.19 and $6.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, October 01, 2021, and so far it has fallen -36.07%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.45 between high and low, or 7.76%. For the last week, the stock has had a daily average volatility of 8.42%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Ferroglobe PLC stock A Buy?
Ferroglobe PLC holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.
Current score: -6.367
Predicted Opening Price for Ferroglobe PLC of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
Remember To Visit Our YouTube Channel
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
Click to get the best stock tips daily for free!
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 10 000+ stocks usually only a few will trigger a Golden Star Signal per day!
Join 100 000+ Happy SubscribersDon't miss out on the runners!
Top Fintech Company
featured in The Global Fintech Index 2020 as the top Fintech company of the country.