Ferroglobe PLC Stock Forecast
Ferroglobe PLC stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Ferroglobe PLC stock price gained 1.96% on the last trading day (Thursday, 25th Apr 2024), rising from $5.09 to $5.19. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.58% from a day low at $5.03 to a day high of $5.21. The price has fallen in 5 of the last 10 days and is down by -4.6% for this period. Volume fell on the last day by -303 thousand shares and in total, 1 million shares were bought and sold for approximately $5.55 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ferroglobe PLC stock with a 90% probability to be traded between $4.37 and $5.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GSM Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -6.99%. 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). 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 $5.05 and $4.88. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Ferroglobe PLC stock
Ferroglobe PLC finds support from accumulated volume at $5.08 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 $0.180 between high and low, or 3.58%. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: $4.95 (-4.68%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (GSM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ferroglobe PLC to open at $5.14, and during the day (based on 14 day Average True Range), to move between $4.97 and $5.41, which gives a possible trading interval of +/-$0.222 (+/-4.27%) up or down from last closing price. If Ferroglobe PLC takes out the full calculated possible swing range there will be an estimated 8.55% 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 (0.77%) than the support at $5.08 (2.12%), 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 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 period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.100 Buy Candidate Upgraded
Predicted Opening Price for Ferroglobe PLC of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $5.14 ( 0.90%) | $5.19 |
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 | 5.32 | 2.57 % | |
| R2 | 5.25 | 1.24 % | ||
| R1 | 5.21 | 0.426 % | ||
| Current price: | 5.19 | |||
| Support | S1 | 5.07 | -2.22 % | |
| S2 | 5.03 | -3.04 % | ||
| S3 | 4.96 | -4.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.58 | 7.51 % | |
| R2 | 5.28 | 1.73 % | ||
| R1 | 5.23 | 0.771 % | ||
| Current price | 5.19 | |||
| Support | S1 | 5.08 | -2.12% | |
| S2 | 4.54 | -12.52% | ||
| S3 | 4.47 | -13.87% |
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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