Ferroglobe PLC Stock Forecast
Red day on Friday for Ferroglobe PLC stock after losing 0.398%
(Updated on Apr 19, 2024)
The Ferroglobe PLC stock price fell by -0.398% on the last day (Friday, 19th Apr 2024) from $5.03 to $5.01. During the last trading day the stock fluctuated 2.02% from a day low at $4.98 to a day high of $5.09. The price has fallen in 6 of the last 10 days and is down by -1.57% for this period. Volume has increased on the last day by 549 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, 1 million shares were bought and sold for approximately $6.35 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 -4.28% during the next 3 months and, with a 90% probability hold a price between $4.02 and $5.31 at the end of this 3-month period.
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GSM Signals & Forecast
The Ferroglobe PLC stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5.11. On a fall, the stock will find some support from the long-term average at approximately $4.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -10.22%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ferroglobe PLC stock
Ferroglobe PLC finds support from accumulated volume at $4.88 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 $0.101 between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GSM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ferroglobe PLC to open at $5.03, and during the day (based on 14 day Average True Range), to move between $4.80 and $5.22, which gives a possible trading interval of +/-$0.208 (+/-4.15%) up or down from last closing price. If Ferroglobe PLC takes out the full calculated possible swing range there will be an estimated 8.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.08 (1.40%) than the support at $4.88 (2.59%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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.
Current score: -1.700 Sell Candidate Unchanged
Predicted Opening Price for Ferroglobe PLC of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $5.03 ( 0.327%) | $5.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.13 | 2.34 % | |
| R2 | 5.09 | 1.57 % | ||
| R1 | 5.06 | 1.10 % | ||
| Current price: | 5.01 | |||
| Support | S1 | 4.99 | -0.443 % | |
| S2 | 4.96 | -0.92 % | ||
| S3 | 4.93 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.58 | 11.38 % | |
| R2 | 5.10 | 1.80 % | ||
| R1 | 5.08 | 1.40 % | ||
| Current price | 5.01 | |||
| Support | S1 | 4.88 | -2.59% | |
| S2 | 4.54 | -9.38% | ||
| S3 | 4.47 | -10.78% |
GSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0130 | 0.261% |
| 2 | Aug 21, 2018 | Sep 04, 2018 | Sep 20, 2018 | $0.0600 | 0.721% |
| 3 | May 21, 2018 | Jun 07, 2018 | Jun 29, 2018 | $0.0600 | 0.700% |
| 4 | Nov 14, 2016 | Dec 06, 2016 | Dec 29, 2016 | $0.0800 | 0.725% |
| 5 | Aug 03, 2016 | Sep 12, 2016 | Sep 28, 2016 | $0.0800 | 0.87% |
FAQ
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