GERDAU SA -SPON ADR (GGB) Stock Technical Analysis
USA - NYSE:GGB - US3737371050 - ADR
3.16 USD
+0.06 (+1.94%)
3.15 USD
-0.01 (-0.32%)
Overall GGB gets a technical rating of 7 out of 10. Although GGB is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
When comparing the yearly performance of all stocks, GGB is a bad performer in the overall market: 63% of all stocks are doing better.
GGB is one of the lesser performing stocks in the Metals & Mining industry. 74% of 156 stocks in the same industry do better.
Both the short term and long term trends are positive. This is a very positive sign.
In the last month GGB has a been trading in the 2.98 - 3.23 range, which is quite wide. It is currently trading near the high of this range.
GGB has an average volume of 10948300 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 currently trading near new highs, so GGB is lagging the market.
Volume is considerably higher in the last couple of days.
Besides having an excellent technical rating, GGB also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 3.17. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.04, a Stop Loss order could be placed below this zone.
More info and screens
2.81
3.24
When analyzing the support we can see 2 important areas.
- A support zone ranging from 3.02 to 3.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 2.84 to 2.85. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 3.17 to 3.21. 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 | UP | POSITIVE | The long term trend for GGB is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GGB is up. |
| ChartMill Relative Strength | 37.66 | 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 | MIXED | The current price of GGB is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.57 | NEUTRAL | The RSI value for GGB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests GGB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 56.05 | NEUTRAL | The Stochastics value for GGB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.56 | MEDIUM VOLATILITY | The ATR as a percentage value for GGB suggests some volalility. |
| Average Directional Index/ADX (14) | 11.33 | NEGATIVE | The low ADX value for GGB suggests a weak or negative 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 3.22 | 3.02 | 0.20 (6.21%) | 16.10% |
| An entry @3.22. This is a Buy Stop order right above the resistance zone. | An exit @3.02. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.20 points, which is 6.21%. | For a 1.00% total portfolio risk, you can invest 16.10% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
3.16
+0.06 (+1.94%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg1.94%
1 Week0.64%
2 Weeks1.94%
1 Month3.95%
3 Month10.1%
6 Month8.22%
12 Month-9.2%
2 Year-20.5%
3 Year-11.91%
5 Year7.61%
10 Year190.63%
15 Year-70.74%
Volatility
ATR(14)0.09
ATR(20)%2.56%
ATR Inc22.82%
Range Today0.09
ADR(20)0.07
ADR(20)%2.31%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS37.66
Mansfield-0.45
10 Day High3.22
10 Day Low3.03
20 Day High3.23
20 Day Low2.98
52 Week High3.62
52 Week Low2.27
CS1 End3.04
CR1 Start3.17
Volume & EV
DER(3)-1.54%
DER(5)-1.27%
Volume20.80M
Volume Incr85.43%
Vol(5)18.14M
Vol(50)10.95M