Ferroglobe PLC Stock Forecast
Stronger technical forecast for Ferroglobe PLC stock price after Wednesday trading.
(Updated on May 01, 2024)
The Ferroglobe PLC stock price fell by -0.762% on the last day (Wednesday, 1st May 2024) from $5.25 to $5.21. During the last trading day the stock fluctuated 2.69% from a day low at $5.20 to a day high of $5.34. The price has risen in 6 of the last 10 days and is up by 4.41% over the past 2 weeks. Volume has increased on the last day by 468 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, 2 million shares were bought and sold for approximately $8.73 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.87% during the next 3 months and, with a 90% probability hold a price between $4.68 and $5.92 at the end of this 3-month period.
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GSM Signals & Forecast
The Ferroglobe PLC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.19 and $4.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.41%. 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. 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
On the downside, the stock finds support just below today's level from accumulated volume at $4.88 and $4.54. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ferroglobe PLC finds support just below today's level at $4.88. If this is broken, then the next support from accumulated volume will be at $4.54 and $4.47.
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 $0.140 between high and low, or 2.69%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: $4.98 (-4.38%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (GSM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Ferroglobe PLC to open at $5.25, and during the day (based on 14 day Average True Range), to move between $5.00 and $5.42, which gives a possible trading interval of +/-$0.206 (+/-3.95%) up or down from last closing price. If Ferroglobe PLC takes out the full calculated possible swing range there will be an estimated 7.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.23 (0.38%) than the support at $4.88 (6.33%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ferroglobe PLC stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.106 Buy Candidate Upgraded
Predicted Opening Price for Ferroglobe PLC of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $5.25 ( 0.768%) | $5.21 |
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 | 5.39 | 3.45 % | |
| R2 | 5.34 | 2.43 % | ||
| R1 | 5.30 | 1.79 % | ||
| Current price: | 5.21 | |||
| Support | S1 | 5.20 | -0.259 % | |
| S2 | 5.16 | -0.89 % | ||
| S3 | 5.11 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.58 | 7.10 % | |
| R2 | 5.28 | 1.34 % | ||
| R1 | 5.23 | 0.384 % | ||
| Current price | 5.21 | |||
| Support | S1 | 4.88 | -6.33% | |
| S2 | 4.54 | -12.86% | ||
| S3 | 4.47 | -14.20% |
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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