GERDAU SA -SPON ADR (GGB) Stock Technical Analysis
NYSE:GGB - New York Stock Exchange, Inc. - US3737371050 - ADR - Currency: USD
We assign a technical rating of 6 out of 10 to GGB. In the last year, GGB was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
64% of all other stocks performed better in the past year than GGB.
GGB is one of the lesser performing stocks in the Metals & Mining industry. 64% of 154 stocks in the same industry do better.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
GGB has an average volume of 13205000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
GGB is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so GGB is lagging the market slightly.
In the last month GGB has a been trading in the 2.61 - 3.22 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
GGB has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
2.59
3.23
3 important support areas can be observed.
- A support zone ranging from 2.79 to 2.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 2.70 to 2.72. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 2.62 to 2.62. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- Resistance @3.00 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 3.18 to 3.20. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for GGB is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GGB is up. |
| ChartMill Relative Strength | 36.53 | NEUTRAL | GGB is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GGB is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GGB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GGB is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.07 | NEUTRAL | The RSI value for GGB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests GGB has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 66.67 | NEUTRAL | The Stochastics value for GGB is a neutral value. |
| Average True Range in percent/ATR (20) | 3.45 | MEDIUM VOLATILITY | The ATR as a percentage value for GGB suggests some volalility. |
| Average Directional Index/ADX (14) | 21.94 | NEUTRAL | The ADX value for GGB suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
2.99
-0.02 (-0.66%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-0.66%
1 Week0.67%
2 Weeks13.69%
1 Month7.94%
3 Month1.7%
6 Month-8.28%
12 Month-4.47%
2 Year-31.26%
3 Year-12.18%
5 Year27.28%
10 Year56.32%
15 Year-71.42%
Volatility
ATR(14)0.12
ATR(20)%3.45%
ATR Inc-55.14%
Range Today0.05
ADR(20)0.08
ADR(20)%2.54%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS36.53
Mansfield-0.62
10 Day High3.22
10 Day Low2.76
20 Day High3.22
20 Day Low2.61
52 Week High3.62
52 Week Low2.27
CS1 End2.86
CR1 Start3
Volume & EV
DER(3)-3.77%
DER(5)-1.58%
Volume15.26M
Volume Incr21.67%
Vol(5)18.18M
Vol(50)13.21M